This article was originally published in The Rose Sheet
Direct seller will lay off 1,300 employees and "exit certain unprofitable operations" as part of its restructuring efforts, according to April 24 SEC filing. Initiatives will incur pre-tax charge of $95 mil.-$100 mil. in 2006, with approximately $73 mil. covering employee-related costs, firm notes. Avon announced a multi-year restructuring plan aimed at restoring growth last fall (1"The Rose Sheet" Nov. 21, 2005, p. 3)...
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