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Company plans to trim $400 million in costs.
December 12, 2013
By: TOM BRANNA
Avon plans to cut 650 jobs as part of its plan to trim $400 million in costs, according to reports. This will go into effect in 2014 and is spearheaded by the CEO Sheri McCoy as part of a long term plan to revive the company by 2016. The company also is reviewing operations in “smaller, underperforming markets” to be restructured or closed and this year sold its jewelry unit, SIlpada, as previously reported in Happi.
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