Global Beauty Giants Slash Jobs — China No Longer Exempt

Global beauty conglomerates are undergoing a strategic shift—and with it, deep cost-cutting measures that have placed “layoffs” squarely in the spotlight. This wave of restructuring is no longer limited to Western headquarters. China, once the untouchable engine of growth, is now also feeling the effects.

Over the past weeks, social platforms like Xiaohongshu and Instagram have been abuzz with reports that L’Oréal is laying off as much as 95% of its Hong Kong workforce, retaining only a skeleton team to maintain minimal operations. On July 2, L’Oréal China refuted the figure, calling it inaccurate and clarifying that the changes were part of a new operating model meant to enhance synergy between the Hong Kong and mainland China teams. The company said impacted employees would be offered internal transfers. However, by July 8, local media in Hong Kong reported that the Hong Kong office would be merged with the mainland division, affecting more than 200 people. L’Oréal has yet to confirm the exact number but has not denied the layoff itself.

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