Avon to cut 100 jobs in New York
Cosmetics maker Avon Products Inc. announced on Wednesday that it is consolidating its U.S. operations into its existing facilities in Suffern, New York, and reducing its workforce.
The change will include the sale of the company's offices in Rye, New York, which is projected to be completed in 2019, and a call for cuts of approximately 100 positions.
The news is part of ongoing plans to streamline Avon’s business and fuel growth.
"With Avon's international focus, simplifying our U.S. operations is a logical next step in providing fuel for growth, and a further example of our commitment to improve Avon's performance and become more fit for purpose," said Jan Zijderveld, Avon CEO, in a news statement.
"While decisions like these that impact our employees are never easy, we will manage the transition in a respectful and sensitive manner. I wish to thank all of our colleagues for their dedication to our growth plans to turnaround Avon."
In its last reported quarter, the company reported a quarterly loss with total revenue down 3 percent to $1.35 billion.
Zijderveld is expected to share his turnaround plans for the business at Avon’s investor day on Friday, September 21.
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