Coty-Lancaster to cut 14 R&D jobs in Monaco
By Alexandre Morel, MonacoViews Editorial
The Monégasque subsidiary of American beauty giant Coty is set to lose 14 research and development positions as the company faces structural and financial pressures.
Coty-Lancaster, the Monégasque arm of the US cosmetics group Coty, is preparing to shed 14 positions within its research and development division in the Principality. The cuts reflect wider structural and financial difficulties facing the SAM, which has long maintained a significant presence in Monaco as one of the Principality's established industrial employers.
The redundancies are a notable development for Monaco's business community, where Coty-Lancaster has historically represented the kind of high-value technical and scientific employment that sits alongside the financial and luxury sectors. Losing a cluster of R&D roles signals a contraction in that specialist workforce, with implications for the employees concerned and for the broader ecosystem of professional talent the Principality works to retain.