Happi Staff03.10.20
Cost-cutting measures resume at Revlon. The company will lay off workers, cut costs and refinance its debt. Yesterday, the company said it reached an $850 million agreement with Jeffries to refinance some of its debt and get new funding to "significantly enhance the company's capital structure," Revlon said in a statement.
The company also announced a restructuring program aimed at saving between $200 and $230 million by the end of the year. About 60% of the "cost reductions" will come on the back of the "headcount reductions occurring in 2020," Revlon said.
Revlon had about 7,300 employees at the end of 2018.