Procter & Gamble has confirmed that it is in talks with its staff in Nenagh over last year's $12.5 billion deal with Coty.
Under the deal completed in July 2015, P&G sold brands such as Covergirl, Max Factor, Wella haircare products and its fragrance business.
Workers right and conditions were retained in the deal under the merger was complete and Coty guaranteed to do the same for a further two years.
The Tipperary Star understands that the 250 staff at P&G were called in for a meeting this Tuesday, but details of what was discussed were not being made known. There were reports that the staff were seeking some form of bonus payment from the merger.
P&G said in a statement: “As previously announced, P&G will transfer our Salon Professional, Retail Hair Color, Cosmetics and Fine Fragrance and select hair styling businesses to Coty. This deal is expected to close in October and we are in the process of consultation with all employees at Nenagh relating to their transfer of employment to Coty. The Coty merger provides Nenagh employees with the perspective of continued employment with Coty, on similar terms to that of P&G. As you will understand, we prefer not to comment publicly on the details of this ongoing consultation process with our employees at the site as we manage this transition with them.”
There was no comment on the discussions from Siptu, which represents the majority of the staff at P&G in Nenagh.
This May, Coty said that following the transaction with P&G Beauty Brands, it expected to become the global leader in fragrances with market leading positions in color cosmetics and hair coloring & styling. P&G Beauty Brands includes leading fragrance brands such as Hugo Boss and Gucci, and the color cosmetics brands COVERGIRL and Max Factor. The transaction also gives Coty an attractive new category in the beauty industry through the addition of P&G’s hair color business, led by Wella and Clairol. ost-integration, the merger is expected to create a strong platform for future growth.
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