Wednesday, July 22, 2009
Avon Products says that it will eliminate about 1,200 positions by 2013 as part of its restructuring efforts.
The revamp will affect about 2,300 positions worldwide and result in a second-quarter charge of approximately 19 cents per share including a one-time restructuring tax charge and costs from a previous restructuring.
New York-based Avon Products Inc. says the restructuring program, which was announced in February, will help trim costs and make it a more efficient company. It anticipates about $200 million in total annualized saving by 2012 to 2013.