Avon has revealed plans to move its headquarters from the US to the UK as part of a strategy to improve its profitability. Staff levels, currently 28,300, will also be reduced by 2,500.
"Today, we are taking another important step forward in the execution of Avon's transformation plan. 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, chief executive officer. "The actions we are taking today will bring our corporate and commercial businesses closer together, which will drive efficiencies, improve operational effectiveness and deliver significant cost savings."
Avon says it will reduce corporate infrastructure and will transition "over time" the location of Avon's corporate headquarters to the UK, from its current base in New York, where it already has significant commercial operations.
