Avon Products Inc. announced a restructuring plan with predictions of $97 million in savings by end of 2019.
The initiative will primarily affect the company’s global workforce and inventory processes. With a 15 percent reduction in inventory levels, 25 percent reduction in stock keeping units, and 10 percent reduction in global employment, the company aims to create more focused and higher quality products that are more relevant for their customers and distributors. This announcement follows a 2017 global workforce layoff of 8 percent.