The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20.4 - Manufacture of soap and detergents, cleaning and polishing preparations, perfumes and toilet preparations
600 - 1,200 jobs Number of planned job losses
Announcement Date
29 January 2004
Employment effect (start)
1 January 2004
Foreseen end date
Description
Wella AG, producer of hair care products controlled by Procter & Gamble Co., plans to cut about 600 jobs in its cosmetics section (2,000 employees worldwide). These workers will be offered transfers to Procter & Gamble and its distributors, affecting 180 jobs in Germany. This is part of an agreement giving Wellas parent company the right to license its products. In July 2004, announcement of around 1,200 jobs to be cut at Wella, controlled by US consumer goods giant Procter & Gamble. The job cuts will affect mainly the production and distribution activities. At least 200 jobs will be cut in Germany alone. As part of the cost cutting measures, several production plants will be closed, including the Kabadell factory in Lenzkirch. Around 100 jobs will go at Wella's plant in Hunfeld, which currently employs 1,100 staff.
Sources
29 January 2004: Wella - Press releases (www.wella.com)
30 January 2004: Handelsblatt
29 July 2004: ´Die Welt
Citation
Eurofound (2004), Wella AG, Merger/Acquisition in World, factsheet number 59815, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59815.
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