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Stock Market & Financial Investment News

News Breaks
June 23, 2014
17:07 EDTAVPAvon Products announces workforce reduction of approximately 600
Avon Products announced additional actions as part of the company's ongoing turnaround efforts to return Avon to sustainable, profitable growth. These steps are related to continued efforts to right size the cost structure, improve organizational effectiveness, streamline processes to gain efficiencies and reduce cost across the organization. These actions are primarily global headcount reductions of approximately 600 positions, largely in the corporate organization and North America business unit. Total charges to be recorded as a result of these actions are expected to be approximately $45M-$50M before taxes, with approximately $40M expected to be recorded in the second quarter. The company expects these restructuring actions to result in annualized savings of approximately $50M-$55M before taxes as part of the $400M Cost Savings Initiative. In connection with the restructuring actions approved to-date associated with the $400M Cost Savings Initiative, we expect to realize annualized before-tax savings of approximately $240M-$250M.
News For AVP From The Last 14 Days
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December 18, 2014
10:01 EDTAVPOn The Fly: Analyst Initiation Summary
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December 17, 2014
17:22 EDTAVPAvon Products confirms FCPA settlement with DOJ and SEC
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16:54 EDTAVPSEC charges Avon with FCPA violations
The SEC charged global beauty products company Avon Products with violating the Foreign Corrupt Practices Act, FCPA by failing to put controls in place to detect and prevent payments and gifts to Chinese government officials from employees and consultants at a subsidiary. Reference Link
16:29 EDTAVPAvon Products initiated with a Neutral at Piper Jaffray
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15:11 EDTAVPAvon China unit pleads guilty to end bribery probe, Bloomberg says
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December 11, 2014
07:49 EDTAVPThe New York Times to hold a conference
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