Avon Looks to the UK for New HQ

Avon is moving its international headquarters to the UK and reducing its workforce along the way in an attempt to be more cost-efficient. With the shift, the company is expected to lay-off around 2,500 workers.

The company announced in January its plans to cut $350 million in costs over the next three years, invest in technology and tap social media to bring more sales.

"With the recent completion of the sale of the North American business, our commercial operations are now fully outside of the United States, allowing us to dramatically rethink our operating model," said Sheri McCoy, Avon's chief executive.

The move is estimated to cost around $60 million.

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