Galderma has debuted as a rebranded dermatology company after separation from Nestle, but Galderma Korea’s unionized workers have expressed concern over job insecurity.
After closing the 10.2 billion Swiss franc deal between Nestle and a consortium of institutional investors on Wednesday, Galderma was rebranded from Nestle Skin Health and became the world’s largest independent dermatology company. Galderma has been a subsidiary of Nestle since 2014.
Galderma’s new CEO Flemming Ornskove said, “The management and team at Nestlé Skin Health have done an excellent job creating a high-growth, leading dermatology business. I believe that Galderma, as a newly focused pure-play dermatology business, has outstanding prospects built on its existing quality portfolio, team and rich pipeline of innovation.”
He said he looked forward to “working with the talented Galderma team to further build on its success to date.”
Galderma Korea CEO Rene Wipperich also said the recent change in the ownership of Galderma would be a new opportunity to enhance the company’s capability and sustainable growth.
“Galderma Korea has been focusing on dermatology for more than 20 years to provide innovative skin health solutions to Korean patients, consumers, and doctors. We look forward to introducing new and innovative products and the best education programs in the future.”
However, the labor union at Galderma Korea said the employees did not have much information about the change in the company, appealing worries about job security.
“We don’t know anything about the separation of Galderma as an independent firm. We have no information on how the independence will affect the Korean unit, and on which business we will focus on,” one of the unionized workers at Galderma Korea said.
He went on to say that the workers were increasingly concerned about their employment.
“We have asked the management to set up a meeting where management and labor could coordinate opinions,” he said. “However, the management has not answered our request.”.
In July, Galderma Korea’s trade union filed a lawsuit against the company with the Ministry of Employment and Labor, accusing the management of crippling the normal operation of the labor-management council and failing to carry out their agreement.