L'Oréal is restructuring and preparing to lay off 500 employees in the United States. According to a report by Advertising Age, the company is struggling in the mass cosmetics and hair color sectors.
Debuts by competing competing companies have created competition for the company in the two categories it has nearly dominated in the past, according to the report The other reason for the layoffs come from the slowing economy and slower prestige cosmetic and hair care sales.
The company has not yet announced what functions or locations its US layoffs will take place. The company has reported that the layoffs are a result of the economy and its efforts to be more efficient.