231-922-9460 | Google +

Wednesday, April 10, 2013

Avon plans to cut 400 jobs, exit Ireland

Story originally appeared on MarketWatch.

NEW YORK (MarketWatch) -- Avon Products Inc. shares were little changed on Monday as the direct seller of beauty products said it's cutting 400 jobs worldwide as part of its previously disclosed initiative to cut $400 million in costs by 2016. The company said it also plans to restructure or close in several smaller, underperforming markets primarily in Europe, Middle East and Africa, including getting out of Ireland. Avon said charges tied to the latest round of restructuring moves will total $35 million to $40 million pretax.