LONDON, Sept. 19, 2018 /PRNewswire/ -- Avon
Products, Inc. (NYSE: AVP) announced that as a further step in its
ongoing plan to streamline the business to fuel growth, the Company
plans to consolidate its U.S. operations into its existing
facilities in Suffern, New York.
This will include the sale of the Company's offices in Rye, New York, which is projected to be
completed in 2019. The planned consolidation will also include
workforce reductions of approximately 100 positions, consistent
with the Company's previous restructuring disclosures.
"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
CEO. "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."
About Avon Products, Inc.
Avon is the Company that for 130 years has
proudly stood for beauty, innovation, optimism and, above all, for
women. Avon products include
well-recognized and beloved brands such as ANEW, Avon Color, Avon
Care, Skin-So-Soft, and Advance Techniques sold through
approximately 6 million active independent Avon Sales
Representatives. Learn more about Avon and its products at
www.avoncompany.com.
Forward Looking Statements
This press release contains
"forward-looking statements" that are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995, including Avon's efforts
to generate long-term profitable growth. Because
forward-looking statements inherently involve risks and
uncertainties, actual future results may differ materially from
those expressed or implied by such forward-looking
statements. These risks and uncertainties include, but are
not limited to, the possibility of business disruption, competitive
uncertainties, and general economic and business conditions in
Avon's markets as well as the
other risks detailed in Avon's
filings with the Securities and Exchange Commission. Avon undertakes no obligation to update any
statements in this press release for changes that happen after the
date of this release.
Contacts
INVESTORS:
Amy Greene
Vice President, Investor Relations, Avon Products, Inc.
914-935-2172
amy.greene@avon.com
MEDIA:
Chris Wermann
Group Vice President and Chief Communications Officer, Avon
Products, Inc.
+ 44(0) 7867185442
Chris.Wermann@avon.com
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SOURCE Avon Products, Inc.