Monday, April 08, 2013 10:03 am
News Summary: Avon cuts some jobs
By The Associated Press
THE CONTEXT: The company said Monday that the job cuts, which are about 1 percent of Avon's 39,100 employees, will occur across all regions and segments. It is part of a turnaround plan under CEO Sheri McCoy, with the goal of achieving mid-single digit percentage revenue growth and $400 million in cost savings by 2016.
WHAT'S NEXT: Avon expects to complete almost all the cuts before year's end.