Avon Products Inc., the world’s largest door-to-door cosmetics seller, will cut about 1,500 jobs globally and exit South Korea and Vietnam as part of a plan to save $400 million by the end of 2015. The steps will result in pretax costs of about $80 million to $90 million, with $50 million to $60 million recorded in the fourth quarter, the company said yesterday. Chief Executive Officer Sheri McCoy, who took over in April, announced the cost-cutting goal last month and said she would lower the company's dividend as it works to recover from three years of declining profit....
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Avon to Cut 1,500 Jobs; Exit South Korea, Vietnam
December 12, 2012
From Bloomberg
Avon Products Inc., the world’s largest door-to-door cosmetics seller, will cut about 1,500 jobs globally and exit South Korea and Vietnam as part of a plan to save $400 million by the end of 2015. The steps will result in pretax costs of about $80 million to $90 million, with $50 million to $60 million recorded in the fourth quarter, the company said yesterday. Chief Executive Officer Sheri McCoy, who took over in April, announced the cost-cutting goal last month and said she would lower the company's dividend as it works to recover from three years of declining profit.
Avon names Patricia Perez-Ayala new SVP, CMO
November 16, 2012
From Retailing Today
NEW YORK — Avon Products has appointed Patricia Perez-Ayala as SVP, CMO and global brand and category president, effective Dec. 3. In her new role, Perez-Ayala will report to Sheri McCoy, Avon's CEO, and will join the company's executive committee....
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