The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20.42 - Manufacture of perfumes and toilet preparations
1,500 jobs Number of planned job losses
Announcement Date
11 December 2012
Employment effect (start)
11 December 2012
Foreseen end date
31 December 2013
Description
Avon Products, international manufacturer and distributor of beauty, household, and personal care products, announced in a press statement that it plans to reduce its global workforce by 1,500 people by the end of 2013. According to the company, these job reductions form part of previously announced cost cutting plan set up to counterbalance difficulties in some of its key markets.
While Avon claims it wants to focus its resources on high priority markets and activities, no reference has been made on where the majority of job cuts will fall. While there is no explicit reference as yet to Europe, the company has said that the job cuts will affect all regions and all functions of its operations.
Sources
11 December 2012: Avon
12 December 2012: Reuters
Citation
Eurofound (2012), Avon Products, Internal restructuring in World, factsheet number 74642, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74642.
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