Nu Skin Lays Off About 5 Percent of U.S. Workforce

Nu Skin Enterprises has laid off about 5 percent of its U.S. workforce, including employees at its Provo, Utah headquarters, a company spokesman confirmed on December 18, 2023. The spokesman said the decision was made to manage costs and align the business to drive future growth as part of an assessment of the business, but did not give an exact number of affected employees.

The cuts follow the company's November 1 third-quarter report, in which revenue fell 7 percent, the 2023 outlook was lowered and Nu Skin disclosed a global restructuring program including workforce reductions, with fourth-quarter severance charges estimated at 15 million to 25 million dollars. President and Chief Executive Ryan Napierski said at the time that the company was re-evaluating its product portfolio, global processes, organization and operational footprint.

Employees reported an earlier round of Nu Skin layoffs in August 2022. The company opened a 55 million dollar manufacturing facility in Shanghai in late November 2023.