Avon Discusses More Details Of Three-Year Reorganization Plan

Avon Products, Inc., revealed more details about its three-year transformation plan, previously announced during the beauty company’s Investor Day in January 2016. According to the company, it is changing its operating model by revising its commercial business to ensure that all markets have consistent roles, responsibilities, and process; and streamlining its corporate functions to align with the present and future needs of its business. Consequently, Avon said it plans to reduce its workforce by 2,500 jobs across many geographical locations. With this, Avon expects to record about $60 million before taxes in total charges with these actions in the first quarter of 2016.