Avon Products has announced the steps in its plan to 'Open Up' Avon.
The company has taken measures to lower its operating costs by reducing inventory levels by 15% and reducing SKU's by 25%.
Jan Zijderveld, CEO of Avon, says, "Core to our 'Open Up' Avon strategy is to have simpler, leaner operations, and for our infrastructure and mindset to reflect Avon's reality. The initiatives announced today all advance these objectives."
Avon also plans to reduce its global workforce by approximately 10% by the end of 2019 -- after an 8% reduction last year. Last September, the company closed its offices in Rye, NY, and eliminated 100 jobs.
Zijderveld comments, "Decisions like these are always difficult, however, we must take the actions necessary to improve our operations and strengthen our ability to continue investing in our transformation initiatives and fuel our future growth. I would like to express my sincere gratitude to the talented employees affected by this restructuring, and we will do our utmost to ensure everyone is treated with fairness and respect."
Avon To Sell China Manufacturing Operation
Avon Products Appoints New VP for IT Transformation