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Avon To Cut 1,500 Jobs

To exit South Korea and Vietnam as part of cost-cutting plan.

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By: TOM BRANNA

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As part of an effort to save $400 million annually by the end of 2015, Avon Products, Inc. will eliminate 1,500 jobs and will exit the South Korea and Vietnam markets. The company said that these actions are aimed at concentrating resources on high priority markets and activities and boosting efficiencies, and are expected to be largely completed before the end of 2013. Cost to implement these actions is expected to be in the range of $80-90 million before taxes, of which approximatel...

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