The energetic and engaged employees Kenvue Inc. management have emphasized as integral to the firm’s success will drop from the current 22,000 headcount in downsizing to lower its costs and increase its share of the global consumer health and beauty products market.
Kenvue Cutting Staff 4% After Year Apart From J&J
Along with latest results, Kenvue says as its “transitions services agreement” with J&J ends, its board approves reducing global workforce by around 4%. It expects around $275m in pre-tax restructuring costs in both 2024 and 2025 without changes to its capital allocation priorities.
More from Earnings
New York-based International Flavors & Fragrances, Inc.’s Scent division is undertaking R&D in natural, synthetic chemistry and biotech molecules, says CEO Erik Fyrwald during a third quarter earnings presentation 6 November.
Firm’s future, as a separate business nearly 90% owned by Bausch Health, or as a standalone with different ownership or one not controlled by a majority owner, claims high profile in analysts’ comments and predictions. B+L is in the driver’s seat, they say.
Galderma Group AG’s investments in Cetaphil launch, ‘re-energizing’ of brand pay off with sales of the dermatology unit up 10.6% in the third quarter. Separately, Spanish beauty company Puig reports its Fragrance and Fashion business grew 11.1% and its makeup division advanced 7.3% in the quarter, while data insights company Consumer Edge identifies slowdown in direct-to-consumer beauty sales.
Beiersdorf AG will back the NIVEA skin care brand with the strongest ‘launch and relaunch’ innovation pipeline in the brand’s history in 2025, says CEO Vincent Warnery during a 24 October quarterly sales presentation.
More from Business
GuruNanda appealing a National Advertising Division decision, following a review of a Procter & Gamble challenge, that it cease using a “natural teeth whitening” claim for its namesake brand pulling oil, mouthwash and gel pen.
Kenvue's EMEA and LATAM head Carlton Lawson acknowledges the urgency of environmental issues like antimicrobial resistance and wastewater pollution in this interview with HBW Insight, but calls for a more balanced approach on the part of European regulators.
Coty Inc. and Austrian crystal house Swarovski enter long-term beauty license, with first scent slated to debut in 2026. Separately, Interparfums SA strikes deal with streetwear brand Off-White; More Industry News