Utah-based Nu Skin begins laying off employees
The CEO of the Provo skincare company said in an earlier statement that revenue had been “lower than expected.”
Nu Skin, a Provo-based multilevel marketing company, began laying off employees on Monday.
The skincare company’s spokesperson said Nu Skin would not comment until an upcoming earnings call on Aug. 4. But an employee who answered the business helpline number confirmed that there had been layoffs.
The extent of the workforce reductions at Nu Skin is not yet clear, but they follow layoffs in March at two related businesses: Grōv Technologies and Stellar Smart Energy Solutions, both in Vineyard.
Vertical farming company Grov Technologies — whose parent company is Nu Skin — has laid off 115 of its employees, according to the Utah Department of Workforce Services. Stellar Smart Energy Solution, which is the lighting division of Grōv Technologies, has laid off six employees, DWS reported.
In other layoffs so far this year, Traeger Grills laid off staff last month. Housing brokerage Homie laid off almost a third of its employees in February. Government services company Maximus laid off 504 employees in April, Workforce Services reported.
Wayfair also began a 90-day hiring freeze in May, Bloomberg reported.
Nu Skin CEO Ryan Napierski said in a statement early last month that the company’s second-quarter revenue was “weaker than expected” with ongoing complications from COVID-19 and stress in Europe with the conflict in Russia and Ukraine.
“While we are disappointed with our second quarter results, we are encouraged by growth in our Southeast Asia region and continued momentum in the United States, particularly given the inflationary environment,” he added at the time.
However, several employees announced on LinkedIn this week that they were being terminated from the company.
“Today I was unexpectedly part of a company-wide downsizing at Nu Skin,” wrote a marketing manager for the company. “I loved my time with Nu Skin and will always be grateful to the people I worked with and the experiences I had.”
“I was fired from Nu Skin today,” wrote another staff member. “After 16 years I have been told that spending cuts have reduced investment in my area and that means my position has been cut as well.”
An employee added that “after four great years at Nu Skin, I am looking for a new role”. Another in company PR posted: ‘I was sadly one of many who were made redundant yesterday.’
Leto Sapunar is a Report for America body member covering corporate responsibility and sustainability for the Salt Lake Tribune. Your donation to match our RFA grant helps him keep writing stories like this; please consider making a tax deductible donation of any amount today by clicking here.