Coty announced that it will cut roughly 700 jobs in a strategic overhaul. This plan is one that was originally used during the pandemic to cut costs across all areas of spending. 

In Coty’s fiscal second quarter ending December 31, 2024, overall net revenue declined by 3% to $1.66 billion. In following the 2020 “All-in to Win” program, Coty hopes to increase cost savings. 

Sue Nabi, chief executive officer of Coty, said, 

“We are committed to building a stronger, more resilient Coty that is well-positioned for sustainable growth. When we first announced our All-in to Win program in FY20, at the peak of COVID disruptions, our goal was to boost our margin profile and brand reinvestment firepower through a significantly lower fixed cost structure, supply chain simplification, procurement savings, and strategic revenue management initiatives.”

Coty plans to streamline the organizational structure across key markets to unlock operational efficiencies. 

The program aims to make support functions more efficient, boosting innovation impact, and reducing non-people fixed costs across all areas of spend.

Coty expects to generate annual fixed cost savings of about $130 million before taxes, while the one-time cash costs associated with the program are expected to be about $80 million.

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