Avon plans to cut over 400 jobs, exit Ireland

A screen displays the price for Avon Products Inc. at the post that trades the stock on the floor of the New York Stock Exchange(Reuters) - Avon Products Inc said on Monday it will slash more than 400 jobs as part of a turnaround plan aimed at restoring the cosmetics maker to profitability. Avon, the world's already showing signs of improvement biggest direct seller of cosmetics, is under its new chief executive, Sheri McCoy, who was brought in a year ago. "We continue to work aggressively toward turning around the business," McCoy said on Monday. In February, Avon reported surprisingly strong fourth-quarter earnings after reversing sales declines in top markets like Brazil and Russia. ...