Breaking News

Avon To Make Job Cuts, Take $5 Million in Charges

August 6, 2007

Avon Products Inc. announced it will cut jobs and take $5 million in charges as part of a restructuring effort.

The company said it would terminate an undisclosed number of employees and outsource some services, a move expected by the end of 2008, according to a filing with the Securities and Exchange Commission.

The restructuring effort is anticipated to cost about $500 million and began in 2005. Avon expects to record charges, most of which will result in future cash expenditures, of about $5 million before taxes for employee-related costs related to the plan. Avon said the company expects to announce further exit and disposal costs in the future.
blog comments powered by Disqus
  • ‘Lash’-ing Out!

    ‘Lash’-ing Out!

    Christine Esposito, Associate Editor||August 29, 2016
    All eyes are on Lash Star Beauty, a lash-centric beauty brand that recently made its QVC debut.

  • Long Term Sustainability In the Nonwovens Market

    Long Term Sustainability In the Nonwovens Market

    August 23, 2016
    Learn more at Cleaning Products USA, Nov. 9-11, 2016

  • Fro Yo!

    Fro Yo!

    Tom Branna, Editorial Director||August 22, 2016
    Project Beauty dishes out Hairgurt, a line of vitamin-rich hair shampoos and conditioning masques.