Avon Products says it will cut 600 more jobs

Cosmetics company tries to reduce costs.
Oklahoman Published: June 23, 2014
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— Avon Products said Monday it will cut another 600 jobs as it tries to reduce its spending.

The company said most of the eliminated jobs will be in its corporate organization and its North American business. Avon had 36,700 employees at the end of 2013.

Avon Products Inc. is the world’s largest direct seller of cosmetics, but its sales have been dropping steadily.

Avon is trying to trim $400 million in spending by 2016 and said that the latest cuts should contribute $50 million to $55 million in annual savings.

The company said it expects to take $45 million to $50 million in charges as a result of the cuts.

Associated Press