Avon to Trim 1,500 Jobs as Part of $400 Million in Cost Cuts
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Avon Products Inc., the world’s largest door-to-door cosmetics seller, will cut about 1,500 jobs globally and exit South Korea and Vietnam as part of plan to save $400 million by the end of 2015.
The steps will result in pretax costs of about $80 million to $90 million, with $50 million to $60 million recorded in the fourth quarter, the New York-based company said yesterday in a statement.