NEW YORK, (APP/AFP) – Struggling cosmetics
company Avon Products, Inc. said Monday it was eliminating 2,500 jobs and moving its headquarters to Great Britain, its latest restructuring after selling off its North American business.
The changes were expected to cost $60 million before taxes in mostly
employee-related charges in the first quarter of 2016, but headcount reduction will result in $30 million in savings this year, the company said in a statement.
Savings were expected to reach up to $70 million in 2017.