Avon cutting more jobs
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- December
- 19
Avon Products Inc., which has a research center in Suffern and back-office operations in Rye, disclosed today that its expects to spend up to $15 million to cut more jobs as part of its ongoing restructuring. Avon, based in Manhattan, said the cuts were approved by the company’s board of directors Friday, according to its filing today with the Securities and Exchange Commission. It isn’t known how many employees or which facilities were affected. The total costs of $12 million to $15 million include $11 million to $14 million for costs related to the job cuts and about $1 million in other expenses. Avon said it expects to announce further job cuts as part of the $500 million restructuring, which was announced last November. Shares of the beauty-products company were down 16 cents, or 0.5 percent, to $32.96 a share at about 11:40 a.m.
This entry was posted
on Tuesday, December 19th, 2006 at 1:02 pm by David Schepp.
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