Mail order and door-to-door beauty specialist Avon is planning to cut 1,200 jobs over the next four years in a major cost-saving drive.
The retailer expects to take on a second-quarter charge of about $90m (£54.5m) for its restructuring plan. The overhaul – which includes focusing on streamlining the business and its global supply chain – will cost the company between $300m and $400m (£181.8m and £242.5m). It expects annual savings of $200m (£121.2m) after the plan is fully implemented. Originally the restructure was expected to eliminate 2,500 to 3,000 jobs.
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