近年來，在全球經濟增長放緩、通膨壓力持續與消費趨勢轉變等多重衝擊下，曾被視為「逆勢指標」的口紅效應似乎失靈，美妝產業不再風光。從高端化妝品牌到日用快消品巨頭，各大美妝企業紛紛進入「降本裁員」模式，試圖在營收下滑與獲利壓力中尋求喘息空間。

2024年2月，雅詩蘭黛集團率先拉開裁員序幕，宣布全球裁員1800至3000人。該公司指出，因中國市場復甦不如預期，加上高通膨導致歐美消費者減少非必需品支出，導致財報表現大幅低於預期，必須進行「組織結構重整」以應對挑戰。

緊接著在同年3月，消費品巨頭聯合利華也宣佈重磅裁員計畫，預計在全球裁撤7500個職位，並啟動多項精簡流程與數位轉型措施。儘管公司強調此舉為強化營運效率、聚焦高成長品牌，但市場普遍解讀為該集團長期營收疲軟與品項過於分散所致。

日本資生堂集團則在2023年下半年開始推行人力精簡計畫，向部分員工提供「提前退休」方案，目標為減少人力成本與精簡海外據點。資生堂也同步調整其產品線，縮減虧損品牌投入，強化中高階產品的市場定位。

另一家化妝品製造商科赴（Kenvue）於2025年2月宣佈裁員約4%，約合920人，並表示將集中資源於香水與新興市場領域，逐步退出毛利率較低的傳統品類。該公司同時也在美國以外地區調整供應鏈，試圖提高總體獲利能力。

2025年消費品巨擘寶潔（P&G）也正式加入裁員浪潮，宣布未來兩年內將精簡約7000個職位，並啟動全球性成本控制計畫。該計畫涵蓋行銷預算縮減、自動化倉儲與供應鏈優化等，反映出即便是財務穩健的品牌巨頭，也難以避免市場寒冬的衝擊。

事實上，這波美妝產業的人事精簡潮並非偶發現象，而是結構性壓力與產業過度膨脹的結果。在疫情期間，線上購物與居家美容需求激增，許多企業大舉擴張團隊與生產線。但隨著疫情紅利消退，消費者對美容產品的需求逐漸回歸理性，尤其在全球經濟前景不明之際，價格敏感度提升，許多中高端產品遭遇銷售瓶頸。

此外，Z世代消費者的價值觀轉變也對傳統美妝巨頭構成挑戰。年輕一代偏好性別中立、天然永續、小眾品牌，對大集團旗下的「傳統明星品項」吸引力不再，加劇市場競爭壓力。

總體來看，全球美妝業正處於從規模增長向質量轉型的過渡期。降本裁員固然是短期因應之策，但能否轉型成功，還需看企業是否能真正理解消費者變化，擁抱創新與數位化，並重塑品牌核心價值。否則，即使裁員止血，也難以逆轉頹勢。口紅效應不再靈驗的今天，唯有真正的品牌革新，才可能在變局中突圍而出。

In recent years, under the combined pressures of a slowing global economy, persistent inflation, and shifting consumer trends, the once-reliable “lipstick effect” appears to have lost its magic, and the beauty industry is no longer basking in former glories. From high-end cosmetics brands to leading fast-moving consumer goods (FMCG) giants, beauty companies have entered an era of cost-cutting and layoffs in hopes of finding breathing room amid falling revenues and profit margins.

In February 2024, Estée Lauder Companies became one of the first to initiate large-scale layoffs, announcing plans to cut between 1,800 and 3,000 jobs globally. The company cited underwhelming recovery in the Chinese market, combined with inflationary pressures that curbed discretionary spending in the U.S. and Europe, as major factors behind disappointing financial results. In response, the firm began a broad organizational restructuring to face these challenges.

Shortly thereafter, in March of the same year, consumer goods titan Unilever unveiled a dramatic plan to cut 7,500 positions worldwide, alongside initiatives to streamline operations and advance digital transformation. Although Unilever framed the move as a push to enhance operational efficiency and focus on high-growth brands, the market widely interpreted it as a reaction to prolonged revenue stagnation and a sprawling, unfocused brand portfolio.

Meanwhile, Japan's Shiseido Group launched a workforce reduction initiative in the latter half of 2023, offering early retirement packages to selected employees. The aim was to trim personnel costs and streamline overseas operations. In tandem, Shiseido began recalibrating its product lines—scaling back investments in underperforming brands while reinforcing the positioning of its mid-to-high-end products.

Another cosmetics manufacturer, Kenvue, announced in February 2025 that it would lay off approximately 4% of its global workforce, equal to around 920 jobs. The company stated it would concentrate resources on perfumes and emerging markets while phasing out lower-margin legacy categories. At the same time, Kenvue initiated supply chain restructuring outside the U.S. in a bid to boost overall profitability.

Procter & Gamble (P&G), another FMCG powerhouse, officially joined the layoff wave in 2025. It announced plans to cut around 7,000 jobs over the next two years and launched a global cost control campaign. This includes reducing marketing budgets, automating warehousing, and optimizing supply chains—clear signs that even financially robust companies are feeling the chill of an industry-wide winter.

In truth, this wave of layoffs across the beauty sector is not a series of isolated incidents, but rather the outcome of structural pressures and an over-inflated industry. During the pandemic, online shopping and at-home beauty routines surged, prompting many companies to aggressively expand their teams and production lines. But as the pandemic windfall fades, consumer demand for beauty products is returning to a more rational level. With uncertain economic prospects and growing price sensitivity, many mid-to-high-end offerings are facing sales slowdowns.

Additionally, the changing values of Generation Z consumers are posing new challenges for traditional beauty giants. This younger generation favors gender-neutral, sustainable, and niche brands, diminishing the appeal of traditional flagship products under large corporate umbrellas and intensifying competitive pressure across the board.

Overall, the global beauty industry is now transitioning from scale-driven growth to quality-focused transformation. While cost-cutting and layoffs may offer short-term relief, long-term success will depend on whether companies can truly understand evolving consumer behavior, embrace innovation and digitalization, and redefine their brand identities. Without genuine brand reinvention, layoffs may only delay the inevitable. In a time when the lipstick effect no longer applies, only meaningful transformation can help beauty brands stand out in an era of upheaval.