Avon to eliminate 2,400 positions
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Avon Products Inc. said it would cut 2,400 jobs as part of its multiyear restructuring plan, which will cost more than originally expected and ultimately save the beauty-products maker $430 million annually.
The New York-based company, which sells beauty products directly to customers, operates in 100 countries through more than 5 million independent sales representatives.
Avon said it would take a charge of $120 million in the fourth quarter for restructuring some international direct selling operations and realigning supply-chain operations in Western Europe and Latin America.
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