PARIS, Dec 12, 2008 (AFP) - French cosmetics giant L'Oreal announced Friday plans to cut nearly five percent of its workforce in the United States, slashing 500 jobs due to the world economic crisis.

Redsken, l'une des marques du groupe L'Oréal

The company, which employs 10,500 people in the United States, will reduce its workforce there by 4.8 percent by the middle of next year, a L'Oreal spokeswoman said.

She did not say if the cuts would be done through layoffs or early retirement.

"L'Oreal USA is convinced that putting this plan in place will allow it to consolidate its market position in a particularly difficult economic context and to better seize opportunities in the future," the company said in a statement.