VIDEO: Cosmetics Maker Avon Products To Cut About 600 Jobs
Cosmetics maker Avon Products said it would cut about 600 jobs, including in its North America unit, as the company tries to return to profit. 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.