AVON Products says it will cut about 1500 jobs and leave two Asian markets as the struggling beauty products seller takes initial steps toward its cost-cutting goal.
The New York company will leave South Korea and Vietnam to focus on high-priority markets as part of a push to save $US400 million ($A381.77 million) by 2015. The initial steps are expected to be largely completed by the end of next year.
Avon will take a charge of between $50 million and $60 million in the fourth quarter tied to the cost cutting. It says the initial steps will account for about 20 per cent of its savings goal.
Avon Products Inc has struggled for years to turn around results at home and in emerging markets.
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