Avon to cut 2,400 in restructuring plan
NEW YORK - Avon Products Inc. on Tuesday said it will cut 2,400 jobs as part of its multiyear restructuring plan, which will cost more than originally expected and ultimately save the beauty-products maker $430 million annually.
The restructuring plan will cost $530 million, up from a previous estimate of $500 million, of which $460 million will have been taken through the fourth quarter of 2007. The remainder will be recognized by the end of 2009.
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