Avon cutting 1,500 jobs
Edward Scissorhands at The Orpheum Theatre by Edward Scissorhands Tour
License (according to Flickr): Attribution License
License (according to Flickr): Attribution License
NEW YORK Avon Products (AVP) says it will cut about 1,500 jobs and exit two Asian markets -- South Korea and Vietnam -- as the struggling beauty products seller takes initial steps toward its cost-cutting goal. The job cuts amount to almost 4 percent of its workforce and mark one of the first major moves by CEO Sheri McCoy, who was brought on in April to replace longtime CEO Andrea Jung. "The decisions outlined today are necessary to stabilize the company and begin the process of returning Avon to sustainable growth," McCoy said in a statement. The New York-based direct beauty products seller said late Tuesday that it plans to focus on high-priority markets as part of a push to save $400 million by 2015. The initial steps are expected to be largely completed by the end of next year. Avon Products Inc.
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Sheri McCoy
Overall Sentiment: 0.0937363
Relevance: 0.339846
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| 0.10171 | "The decisions outlined today are necessary to stabilize the company and begin the process of returning Avon to sustainable growth," McCoy said ... |
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CEO Andrea Jung
Overall Sentiment: 0
Relevance: 0.322568
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Company: Avon Products Inc.
Overall Sentiment: -0.0992389
Relevance: 0.951175
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Beauty products company will also exit two Asian markets as it takes initial steps toward its cost-cutting goal
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Avon cutting 1,500 jobs
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- andrea jung
- avon
- avon products
- cosmetics
- job cuts
- jobs
- sheri mccoy
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