The future remains unclear, this afternoon, for around 250 jobs held in North Tipperary, as multi-national manufacturer of Beauty Care Products, Procter and Gamble, sells 43 brands to Coty for $12.50 billion (€11.33 billion).
New purchasers Coty are a beauty-products company which distributes products for brands including Calvin Klein and Adidas. The Nenagh factory, has accepted Coty’s offer to buy its global salon professional hair care and colour, retail hair colour, cosmetics and fine fragrance businesses.
Coty shares spiked 18% last month after the New York Post reported that it had won an auction for the Procter & Gamble businesses.
However here in Tipperary the future presently remains unclear for the present Procter and Gamble workforce. All current employees in its Co Tipperary facility were called for a meeting this afternoon to inform them of limited details regarding the sale. It is understood that staff were told they would remain Procter and Gamble employees until the end of 2016, when this latest sale would be finalised, at which point they will then become Coty responsibilities.
Following this news grave concerns were expressed by employees, with many expressing privately that wages could now be ultimately impacted, once this new deal is fully completed.
Procter and Gamble was initially founded in the US in 1837 by William Procter and James Gamble, natives of England and Ireland respectively and the company has been in business in Nenagh Co. Tipperary since 1978.
Unemployment figures for North Tipperary increased for the month of June 2015 by 263 persons or by 452 persons when all of Co. Tipperary is calculated. In total during the combined months of May and June 2015, Co. Tipperary saw a total of 835 of its workforce; currently represented, under the CSO categories of ‘All Ages’ – ‘Both Sexes’, as now signing for unemployment benefit in the county. These unemployment figures represent almost double Ireland’s national average.