THE WHAT? Oriflame has announced that it will eliminate some 20 percent of its staffed positions, reducing its headcount from 4,450 to 3,600 as part of a wider cost efficiency program.

THE DETAILS The program is expected to save the direct sales firm US$57 million annually by its slated completion date of Q3 2024.  

The Swedish beauty brand has also announced the departure of Chief Operating Officer and Deputy CEO Jesper Martinsson who is leaving to pursue outside opportunities. He will be succeeded by Niclas Palmquist, Vice President of Business Technology and Digital Experience.

THE WHY? Anna Malmhake, Oriflame CEO, stated, “We have made a tough but necessary decision and the announcement today will affect many of our employees. The environment is increasingly challenging and after a period of weaker sales and lower profitability there is a need for a comprehensive efficiency program to secure the continued progress of our company.”