Avon will fire 600 to save $ 50 million a year

Avon today announced that it will lay off 600 more people, mainly in the administrative area and its operation in North America. With that, the company expects to have annual savings of $ 50 million to $ 55 million before taxes.
The measure is part of Avon's efforts to cut costs by $ 400 million by 2015, as announced in 2012, with the aim to grow with profitability.
The expenses related to workers must be cuts of $ 45 million to $ 50 million before taxes. Of these, approximately $ 40 million should be recorded in the second quarter of this year.
With the actions taken until today, Avon hopes to achieve annualized basis savings of $ 240 million to $ 250 million, before taxes.
At the end of last year, Avon had 36.7 thousand employees worldwide.