REVLON STOCK DIPS SLIGHTLY
NEW YORK — Wall Street showed little interest Thursday in Revlon’s latest move to get the financially troubled company back on track. In normal trading, the stock closed at 8 13/16, down 5/16 on the New York Stock Exchange.
On Wednesday, the cosmetics giant said it would dismiss 200 workers at the company’s New York and New Jersey offices and eliminate another 80 unfilled positions. The job cuts, effective Dec. 31, will affect all departments, said a company spokesman.
In November, Revlon announced the departure of its president and chief executive, George Fellows, who has been succeeded by Jeffrey Nugent, formerly worldwide president at Neutrogena. Last week, Kathy Dwyer, president of Revlon Consumer Products USA, resigned. A successor has not been named.