Avon eliminating jobs
Posted: Tuesday, April 9, 2013 12:00 am
NEW YORK (AP) — Avon is eliminating more than 400 positions and abandoning or restructuring smaller or underperforming businesses in Africa, the Middle East and Europe, including an exit from Ireland.
The company said today that the job cuts, which equate to about 1 percent of Avon’s 39,100 employees, will occur across all regions and segments. It is part of a turnaround plan under CEO Sheri McCoy, with the goal of achieving mid-single digit percentage revenue growth and $400 million in cost savings by 2016.
Avon expects to complete almost all the cuts before year’s end.