Honor is One of Several Bestowed On Beauty Company This Year
NEW YORK--(BUSINESS WIRE via COLLEGIATE PRESSWIRE)--Feb 28, 2002--A recent Fortune magazine article has listed L`Oreal, S.A. as one of Europe`s Top Ten Companies To Work For. The article comes on the heels of a Financial Times article that noted L`Oreal as one of the World`s Most Respected Companies.
With headquarters in Paris, France, L`Oreal was the only French company on Fortune`s list. The magazine lauds L`Oreal, the world`s leading beauty company, for its international atmosphere, employee diversity and autonomy and its wide array of employee benefits.
But it`s L`Oreal`s remarkably diverse and distinct workforce that makes an impression on Fortune editors, ''There are 45 nationalities represented, with 36,000 of its 48,000 employees working outside France. Women also do well here. Worldwide, 49% of managers are female.'' It`s no surprise then that L`Oreal employees stay with the company an average tenure of 14 years, ''Loyalty to the company is very important to us. People come, they join and they stay,'' explains Francois Vachey, the company`s vice president for human resources.
Employees in the U.S. also enjoy generous work-life benefits. On-site company stores, cafes and competitive compensation are standard. The recently established Management Development Center illustrates the commitment to investing in the development, training and growth of employees. MDC seminars and courses are designed to encourage professional development, innovation and creativity.
In the U.S. diversity is at the forefront of corporate initiatives. Here, minorities comprise a considerable percentage of management staff. Women make up 57 percent of senior management and represent more than half of the company`s exclusive executive committee. ''L`Oreal is proud of its designation as one of the top companies to work for in Europe. But it is our goal to create a leading professional environment for our employees around the world. Attracting and retaining top talent is one of the keys to our success.'' says Jean-Paul Agon, President and CEO, L`Oreal USA.
This is the first year European companies have been ranked by Fortune magazine, but their list of the top 100 American companies to work for has been an annual benchmark since 1997. Other top ten European companies listed in the article were, ING (The Netherlands), Morgan Stanley (UK), Nokia (Finland), Novo Nordisk (Denmark), Porsche (Germany), Pret A Manger (UK), San Raffaele (Italy), Skandia (Sweden) and ST Microelectronics (Switzerland).
ABOUT L`OREAL
L`Oreal USA headquartered in New York City, with annual sales of over $3 billion and 8,800 employees, is a wholly-owned subsidiary of the L`Oreal Group, the world`s leading cosmetics company. L`Oreal USA has Research & Development, Manufacturing, Distribution and Administration facilities in New Jersey, Kentucky, Arkansas, Illinois, Ohio, Colorado, Georgia, as well as the Caribbean. The company`s prestigious brand portfolio includes, L`Oreal Paris, Lancome, Maybelline, Garnier, Redken 5th Ave NYC, Soft Sheen/Carson, Kiehl`s
Since 1851, Matrix, La Roche-Posay, Ralph Lauren Fragrances, Giorgio Armani Parfums and Cosmetics, Biotherm, Helena Rubinstein and Shu Uemura.
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