Avon
This article was originally published in The Rose Sheet
Executive Summary
The termination of certain employees and other actions under initiatives to outsource certain services per the firm's ongoing multi-year restructuring initiative will result in charges of about $5 mil.-$6 mil. before taxes, direct seller states in an Oct. 17 Securities and Exchange Commission filing. Charges of $4.4 mil. will be recorded in Q3 2006, firm says, adding the employee cuts will be completed by 2009. Avon announced its restructuring plan last fall, noting it will result in costs of $300 mil.-$500 mil. before taxes (1"The Rose Sheet" Nov. 21, 2005, p. 3)...
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