Helen of Troy Cuts 10% of Staff in Company Restructuring
- Owner of OXO brand joins growing ranks of firms cutting jobs
- Company reported quarterly results that exceed estimates
OXO Good Grips kitchen utensil
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Helen of Troy Ltd., the consumer-goods conglomerate behind brands such as OXO, Osprey and Vicks, will slash about 10% of its global staff in a restructuring.
The company, which had 2,146 workers as of February, announced the cuts along with fiscal third-quarter earnings on Thursday. As part of the changes, the Beauty business will be combined with the Health & Wellness division and operations and finance functions will be centralized. Most of the reductions in roles will be completed by March 1. The moves follow the company announcing its “Project Pegasus” restructuring plan in October.