Cosmetics maker Avon Products Inc said on Monday it would cut about 2,500 jobs worldwide and shift its corporate headquarters to the UK as part of its three-year turnaround plan.
Avon shares were up nearly 4 percent at $4.55 in extended trading.
The company sold most of its North American business to Cerberus Capital, its biggest investor, after four years of falling sales.
Avon said it expected to record $60 million (42 million pounds) in pre-tax charges related to job cuts in the first quarter.
The company, which has 28,300 employees, said the transition of its headquarters would occur over time.
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Please stop buying Avon, make them suffer!
ReplyDeleteI am a former Avon lady and love the Avon products, however, I'll stop buying their products!
ReplyDeleteMen, it's cheaper to buy yourself a case of beer.
ReplyDelete"Please stop buying Avon, make them suffer!"
ReplyDeleteWhy?? The United States has become a hostile environment for business. It is liberal politicians that need to suffer. Avon is doing what it must to survive.