TOKYO -- Shiseido said Monday it will cut about 200 jobs in Japan as the cosmetics maker braces for its biggest ever annual loss, hit by a large impairment charge related to its struggling U.S. skincare brand.
Consumer
Japan's Shiseido to cut 200 more jobs as it braces for record annual loss
Cosmetics maker expects second straight year in red on US brand impairment
Shiseido's U.S. business performance has weakened due to the continued slump of its Drunk Elephant skincare brand, prompting the company to book a 46.8 billion yen goodwill impairment. (Photo by Tomoki Mera)
Read Next
Latest on Consumer
