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 20.4 - Manufacture of soap and detergents, cleaning and polishing preparations, perfumes and toilet preparations
2,400 jobs Number of planned job losses
Announcement Date
9 January 2008
Employment effect (start)
Foreseen end date
31 December 2012
Description
Avon, a global cosmetics producer, has announced that it is to cut 2,400 jobs worldwide by 2011-2012. The company currently employs 4,000 and expects to achieve annual savings of approximately USD 430 million once the restructuring plan is fully implemented. The restructuring is designed to cut costs and improve productivity. Avon said that the company has entered into required formal consultation processes with employee representatives.
Sources
9 January 2008: Hospodárske noviny
Citation
Eurofound (2008), Avon, Internal restructuring in World, factsheet number 66162, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66162.
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