Cosmetics Maker Avon to Cut About 600 Jobs

Reuters

Cosmetics maker Avon Products Inc (NYSE:AVP) said it would cut about 600 jobs, including in its North America unit, as the company tries to return to profit.

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Avon said it would take a pretax charge of $45 million-$50 million, of which $40 million was expected to be recorded in the second quarter.

The job cuts and other restructuring efforts are expected to result in annual savings of about $50 million to $55 million, the company said in a statement.

(Reporting by Soham Chatterjee in Bangalore; Editing by Kirti Pandey)

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