PARIS — Marionnaud Group announced Tuesday that it has finalized its reorganization plan for France, which includes 540 redundancies in its perfumeries and 42 in its headquarters.
During the next month, employees at the A.F. Watson Group-owned perfumery chain can opt for voluntary departure. The first layoffs are expected to be announced by mid-November.
“With no store closures, the company will redress its financial performance by reorganizing its structure based on its strongest points of sale, reorienting certain roles of the head office, simplifying processes and a 20 percent cost-reduction plan,” stated Marionnaud.
As reported, in mid-June, the company said it planned to lay off approximately 700 employees in France (or some 17 percent of its workforce there) in order to return the perfumery chain to a consistent level of profitability.
Over the past three years, Marionnaud — which has 562 perfumeries in France — has lost about 25 million euros, or $36.8 million at current exchange, annually, according to the firm. It added that in 2008 there was a slight improvement.
On Sept. 30, some company employees staged demonstrations around France in protest of the looming layoffs.
Watson has invested 60 million euros, or $88.3 million, in Marionnaud since its acquisition in 2005.
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