Avon Products Inc. (AVP) is exiting Ireland and 400 jobs are being lost worldwide as the beauty brand try to save money.
The door-to-door cosmetics company has revealed they are also going to close and restructure a number of their operations across Europe, the Middle East and Africa in a bid to return the brand to profitability.
Avon are making a number of cuts to save money and encourage profitability.
The move out of the Irish market as well as the job losses are said to be part of Avon’s efforts to focus on the larger, more profitable markets.
According to reports they have already made a number of improvements under their new Chief Executive Sheri McCoy who was appointed last year.
Today they ceased trading in Ireland (Image courtesy of avon.ie).
Speaking about the most recent developments, she said: “We continue to work aggressively toward turning around the business.”
The New York company is hoping their actions will help them achieve their goal of cutting their costs by $400 million within the next two years.
