Avon
This article was originally published in The Rose Sheet
Executive Summary
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)...
You may also be interested in...
Avon Restructuring Initiative Aimed At Restoring Growth
Avon will launch several new skin care and color cosmetics initiatives next year and significantly increase advertising investment in an effort to restore competitiveness and drive revenue growth, according to CEO Andrea Jung
Executives On The Move: Changes At The Top At Enzolytics, Dyne Therapeutics And Seres Therapeutics
Recent moves in the industry include new chief financial officers at LENZ Therapeutics and Botanix Pharmaceuticals, plus new chief medical officers at Vigil Neuroscience and Voyager Therapeutics.
Israel's Gamida Cell Survives By Selling To Lender
Having finally secured US approval for Omisirge, Gamida was hoping to bag a strategic partner for the cell therapy. A year on, no suitable partner has been identified and the firm is delisting from the NASDAQ and going private.