By  on July 17, 2007

Avon Products Inc. said it will trim head count and take $5 million in charges, according to a filing with the Securities and Exchange Commission.

The move is part of a previously announced restructuring effort that the company began in November 2005.

The filing states that Avon will cut an undisclosed number of jobs and outsource certain services. The two efforts are expected to be completed by the end of 2008. The company expects to record total charges of about $5 million before taxes to cover employee-related costs tied to the plan.

When asked what types of posts and locations would be affected by the cuts, an Avon spokeswoman said the company would not comment beyond the filing.

The beauty firm said it expects to announce further exit and disposal costs, but would not detail if exits from certain markets and businesses or more job cuts were planned. Avon continues to project its multiyear restructuring effort will cost approximately $300 million to $500 million before taxes. Last year, the company incurred $229 million in costs related to its restructuring plan.

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