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In Brief / COSMETICS

Avon to eliminate 2,400 positions

January 09, 2008|From Times Staff and Wire Reports

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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