Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
As announced on 27 January 2021, the US beauty company Coty will be closing its perfume factory in Cologne, which will result in the loss of 300 jobs by summer 2022. Coty intends to save up to €600 million with the closure and thus, the relocation of production to cheaper locations in Spain and France is inevitable. The factory in Cologne is Coty’s only site in Germany and has been manufacturing perfumes for Hugo Boss and Bruno Banani since 2003. The factory was previously owned by Procter and Gamble but was bought by Coty in 2016.
Information on a social plan are not yet available.
Eurofound (2021), Coty, Offshoring/Delocalisation in Germany, factsheet number 103485, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103485.