L'Oreal is planning to lay off up to half its travel retail workforce in China, as the French cosmetics giant grapples with prolonged weakness in duty-free sales, multiple sources told Caixin.
Reduced domestic consumption, weaker yuan drive product decline

Staff members work at a counter of cosmetics brand L'Oreal at a shopping mall in Beijing. © Reuters
L'Oreal is planning to lay off up to half its travel retail workforce in China, as the French cosmetics giant grapples with prolonged weakness in duty-free sales, multiple sources told Caixin.