The cosmetics maker Avon Products has said that it will cut about 2,500 jobs worldwide and shift its corporate headquarters to Britain as part of a three-year turnaround plan.Imagine that.
Shares in Avon, an American company, were up nearly 4 percent to $4.55 in extended trading, after the announcement late Monday.
In December, the company sold most of its North American business to Cerberus Capital Management, its biggest investor, after four years of falling sales.
Avon, currently based in New York, said in a statement on Monday that it would move its headquarters to Britain “over time,” but it did not give further details.
Avon said it expected to record $60 million in pretax charges related to job cuts in the first quarter of 2016.
Wednesday, March 16, 2016
Avon to Cut 2,500 Jobs and Move Headquarters to Britain
The New York Times reports:
