Okay, so we’re deep into the credit crunch and it’s really starting to take hold in the beauty world. However, we’re informed again and again that beauty generally weathers financial storms because of the feel-good factor essential for keeping morale up. It’s well known that in times of crisis lipstick sales shoot up because women of the world find solace in a fast beauty boost. What we are starting to see though, is the ugly side of the beauty industry, where the axe is falling hard and fast on jobs. As an example, SpaceNK (UK) recently made one of their PRs redundant (PRs are the vital line between beauty companies and journalists), and yet, according to the Guardian, the company showed a 3.1 million pound profit for the year to March, a fall of 14%. SpaceNK has gone on record saying they feel it’s going to be a tough year. Now, others are following suit and redundancies are coming thick and fast. What I just don’t get though, is how a 3.1 million pound profit, no matter that it’s down on last year, means the end of someone’s job? How badly do they need 45k? Where’s the human side of this largely female industry that saves someone’s livelihood before they invest in a new face mask? And, it’s not just SpaceNK; other big names are also making severe cuts. It’s my feeling that if you are a beauty company in profit, thank your lucky stars and share it around a bit; don’t kowtow to profit margins by making hideous choices for your staff who don’t own the company but have invested time, passion and effort into it. The rewards for doing this, it seems, are really not pretty. Shame on those who don’t support workers and instead batton down the hatches to save themselves.
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