On February 29th, Shiseido Group announced on its official website that it would offer an early retirement plan to approximately 1,500 employees in its Japanese company to promote growth and profitability.
Shiseido stated in the announcement, “After the COVID-19 pandemic, as the Japanese economy begins to recover, people have more opportunities to consider new career choices and reevaluate factors such as work styles and life plans. Against this backdrop, Shiseido Japan will implement significant reforms that will support employees in exploring opportunities outside the company.” The estimated financial impact of this measure has been included in their annual forecast.
Furthermore, in order to achieve “sustainable growth,” the Shiseido Group will focus its efforts entirely on brands, products, and touchpoints with high growth potential and profitability. They specifically mentioned their digital initiatives, stating that they aim to increase the share of e-commerce sales in Japan from the current 10% to 30%. They also plan to improve efficiency by optimizing costs, marketing investments, and expenses, with a target of reducing 25 billion Japanese yen over the next two years.
