U.S. beauty giant Coty announced plans to cut approximately 700 jobs worldwide, about 5% of its total workforce, as part of broader cost-cutting efforts. CEO Sue Nabi cited tariffs, geopolitical dynamics, and shifting consumer behavior as key factors. The move extends Coty’s 2020 “All-In to Win” program, targeting an additional $130 million in fixed cost savings over two years, while maintaining around $240 million in production cost savings.