L’Oreal to Close Some Stores, Cut 400 Jobs in the U.S.

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L’Oreal SA plans to close retail locations as part of a restructuring of its U.S. luxury operations as the company grapples with severe changes to consumer behavior amid the pandemic.

The Luxe Division of L’Oreal USA plans to shift investment to growth areas such as e-commerce as part of the reorganization over the next six months, the company said Thursday in a statement in response to inquiries from Bloomberg.

L’Oreal said as many as 400 roles in the U.S. Luxe Division would be affected. Some will have a chance to move to another position in the company. It didn’t say how many stores would close.

Read more via Bloomberg

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