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Cutbacks at Coty, Inc.

More than five-hundred local workers are going to lose their jobs. Coty Incorporated, formerly Del Laboratories, is making major cutbacks at its Rocky Point and Leland facilities.

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Caring company or not?

Submitted by Ohan Karagozian (not verified) on Sun, 06/28/2009 - 9:10am.
Coty is complying with the WARN Act (U.S. Department of Labor Worker Adjustment and Retraining Notification Act which became effective in 1989) and making it sound that they really care about their employees. It's possible that Coty does care about it's employees, but that after reading some of the reviews posted on glassdoor.com, I am a bit suspicious. Additionally, Coty has misclassified some employees as independent contractors against existing labor laws saving much money in paying taxes and benefits for itself. Coty is presently being sued for this in New York. Presently, Coty is being sued by it's ex-CFO as well for exercise of stock options amongst other things.
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