The business has furloughed some employees and asked others to work reduced hours for less pay. The company’s executive leadership team is also reducing their base salaries, the spokesman said.
“Like many other businesses, the beauty industry is facing unprecedented challenges from the widespread impact of the COVID-19 outbreak. Revlon will continue to effectively and efficiently serve our customers and consumers around the world with our industry leading products and services and support our team, partners and stakeholders throughout this unprecedented time,” the spokesman said.
Revlon is one of many companies furloughing or cutting back employee hours as COVID-19 affects the way the beauty business is done. On Tuesday, Sephora said it was laying off some part-time and seasonal store workers, and several indie beauty brands have asked staff to take pay cuts.
“Beauty is a highly resilient industry and Revlon is well positioned to recover when impacted markets return to normalized levels,” the Revlon spokesman continued. “The company is implementing a variety of actions to help ensure that we meet the challenges of the COVID-19 pandemic head on, keep our employees safe and scale our operations to meet demand during the span of the pandemic so we are ready when the industry begins to recover. We are confident that the temporary measures we are taking now will prepare us to come out of the pandemic even stronger than before.”
Even before COVID-19 swept across the globe, Revlon faced challenges. The business has been seeing sales declines across all areas except Elizabeth Arden, and put itself up for sale in 2019 as loan maturities drew closer. In March, Revlon unveiled restructuring plans, including layoffs, meant to “build a strong global business operation.” The company continues to weigh sale options.
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