As it works to turn around the business, Avon Products Inc. is consolidating U.S. operations.
The business moved its headquarters to London after selling a majority stake in the U.S. business to Cerberus Capital Management in 2016, and now plans to sell its Rye, N.Y., offices and reduce its workforce by 100 positions.
The remaining business will be consolidated into the company’s Suffern, N.Y., facilities.
“With Avon’s international focus, simplifying our U.S. operations is a logical next step in providing fuel for growth, and a further example of our commitment to improve Avon’s performance and become more fit for purpose,” said Jan Zijderveld, Avon’s chief executive officer. “While decisions like these that impact our employees are never easy, we will manage the transition in a respectful and sensitive manner. I wish to thank all of our colleagues for their dedication to our growth plans to turnaround Avon.”
The news comes one day after Avon’s stock spiked because of sale rumors, and two days before Zijderveld is expected to detail his turnaround plans for the business at Avon’s investor day.
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