Avon Plans to Cut 650 Jobs to Trim Costs

Avon, the world's largest door-to-door cosmetics seller, plans to cut 650 jobs as part of its plan to trim $400 million in costs. The cuts and other actions, which will be completed next year, will result in charges of as much as $45 million before taxes, with about $35 million recorded in the fourth quarter of 2013, the New York-based company said today in a filing. Chief Executive Officer Sheri McCoy has been cutting jobs and exiting markets as part of a plan to save $400 million by 2016.