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Kenvue to lay off 4% of global workforce

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“To achieve these savings, the Company expects to incur approximately $275 million of pre-tax restructuring costs in each of fiscal year 2024 and fiscal year 2025.”

Kenvue has about 22,000 employees around the world, according to its 2023 Annual Report. It is the company behind well-known brands such as Band-Aid, Tylenol, Listerine, among others.

Paul Ruh, Kenvue’s chief financial officer, added that the initiatives will enable the company to adjust its cost structure and ways of working to become more competitive.

“These initiatives will structurally position Kenvue for success in the future and create long-term shareholder value,” Ruh said in a statement.

The company did not specify which employees will be affected, as well as when the layoffs will occur.

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