LVMH's Sephora Cuts Less Than 3% of Jobs in China
By Helena Smolak
LVMH's Sephora said it laid off less than 3% of its 4,000-person workforce in China as part of a wider restructuring amid an economic slowdown.
The French beauty giant and one of LVMH's biggest brands confirmed Wednesday that its job cuts in China are part of a head office streamlining effort to ensure long-term growth in the country. This follows a Bloomberg report claiming a 10% workforce reduction.
"Our employees have always been our top priority and we are treating those who are impacted with the utmost respect, care and support that include severance packages, compensation and career support services," a Sephora spokesperson said.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
August 21, 2024 12:47 ET (16:47 GMT)
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