Henkel cuts jobs to cope with rising costs
The German consumer goods group Henkel is to cut 1,000 jobs in Germany by 2011 and merge its cosmetics and washing products divisions. The reduction in Germany is part of a programme set out in February this year with the aim of increasing competitiveness. The group achieved record profits in 2007 but will shed 3,000 jobs worldwide.
The German consumer goods group Henkel is to cut 1,000 jobs in Germany by 2011 and merge its cosmetics and washing products divisions. The reduction in Germany is part of a programme set out in February this year with the aim of increasing competitiveness. The group achieved record profits in 2007 but will shed 3,000 jobs worldwide.
The board is examining a project to merge the cosmetics and washing products areas in the wake of rising raw materials costs which the company says are difficult to pass on to consumers. While washing products sales and operating earnings fell in first quarter 2008, cosmetics and body care products sales rose strongly.