Budelpack 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
231 jobs
Number of planned job losses
Job loss
Announcement Date
29 October 2008
Employment effect (start)
1 September 2008
Foreseen end date
30 November 2008

Description

Budelpack COSi, a firm that produces cosmetics, has announced that it is to cut 231 jobs at its site in Maesteg in South Wales. Approximately 550 are employed at the site. The firm attributes the decision to cut the jobs to a fall in sales caused by an economic downturn. A spokesperson for the firm stated that sales had fallen by a quarter in recent months. The spokesperson also stated,

‘It is very unfortunate that we have to restructure but in this current economic climate these changes are unavoidable’

The job losses are composed of 150 agency staff who have lost their jobs in the last two months, and 81 full time staff who will lose their jobs by the end of November 2008.

Sources

  • 29 October 2008: BBC News

Citation

Eurofound (2008), Budelpack COSi, Internal restructuring in United Kingdom, factsheet number 67316, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67316.