Advertise with

Revlon to cut 250 jobs
Revlon to cut 250 jobs

Revlon to cut 250 jobs


Fin24 - Sep 6th 2012, 08:40

New York - Makeup company Revlon Inc. said it is cutting 250 jobs, or about 5% of its workforce, and is closing two plants in a broad restructuring as it seeks to cut costs.

Revlon, whose brands include Almay, Mitchum and its namesake, says it will close its manufacturing plant in France and its leased manufacturing plant in Maryland and move manufacturing to other plants and third parties.

It will also restructure operations in French and Italy and realign its operations in Latin America, including consolidating Latin America and Canada into one region.

It employs about 5 200 people overall.

Revlon will take third-quarter charges of $25m, including $19m in employee-related costs and $6m in other costs including asset write-offs.

Revlon expects to save $10m annually from the moves, including $9m in 2013. 

Read more about: mitchum | almay | personal care | cosmetics | revlon

Related News

Clicks climbs after annual results
25/10/2013 - 11:12
Johannesburg - South African beauty and pharmaceutical retailer, Clicks, has said trading over the Christmas holiday season is critical to its fiscal 2014 performance as consumer spending remains weak

Emerging markets boost Nivea firm
08/08/2013 - 09:01
Frankfurt - German cosmetics group Beiersdorf said on Wednesday that strong demand for its Nivea hand cream and Labello lip balm in emerging markets lifted its second quarter sales and profits.

Estee Lauder eyes buoyant Africa demand
06/08/2013 - 08:58
Johannesburg - Estee Lauder plans to expand its presence in sub-Saharan Africa by rolling out its $1bn brands, Clinique and MAC, to tap into strong demand for luxury cosmetics among the region's middle class, a company executive said on Wednesday.

R37m coconut boost for small farmers
24/06/2013 - 10:47
Cape Town – A high degree of interest in the medical and health benefits of coconut oil has led to a joint venture worth $4m (about R37m) between Agri-Vie and Vida Oils International.

India: P&G to set up its biggest India plant in Andhra Pradesh
11/06/2013 - 10:10
FMCG major Procter & Gamble (P&G) India is enhancing its manufacturing capabilities and expanding its footprint by setting up its largest plant at Kothur Mandal in Mahaboobnagar district of Andhra Pradesh. The company will be investing R370 crore in the plant through Procter & Gamble Home Products.