Creative Outsourcing Solutions International (Cosi)

Type
Internal restructuring
Country
United Kingdom
Region
Wales; South East Wales; Central Valleys and Bridgend
Location of affected unit(s)
Maesteg
Sector
Manufacturing
(20 - 21) Manufacture of chemicals and pharmaceuticals
20.4 - Manufacture of washing, cleaning and polishing preparations
20.42 - Manufacture of perfumes and toilet preparations
242 jobs
Number of planned job losses
Job loss
Announcement Date
18 October 2007
Employment effect (start)
Foreseen end date

Description

Creative Outsourcing Solutions International (Cosi), a firm that manufactures cosmetic products, has announced that it is to cut 242 jobs at its site in Maesteg. The firm attributes the decision to make the job losses to poor trading results during the summer of 2007. 92 employees will be made redundant by the firm, whilst a further 150 staff will not have their contracts renewed. The redundancies follow the firm announcing the creation of 300 new jobs in January 2007. The firm has now stated that these new jobs will not be created. Cosi employs approximately 700 at its Maesteg site. As of October 2007, there is no information on when the job losses will be implemented by.

Sources

  • 18 October 2007: BBC Website
  • 23 October 2007: BBC Website

Citation

Eurofound (2007), Creative Outsourcing Solutions International (Cosi), Internal restructuring in United Kingdom, factsheet number 65976, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65976.