Cosmetics giant Revlon to cut jobs, shut plants in US, France
NEW YORK (AFP) - United States (US) cosmetics giant Revlon said on Wednesday it will cut 250 jobs and close two plants, one in Maryland and another in France, in a restructuring aimed at US$10 million (S$12.45 million) in cost savings.
Revlon said in a statement it was exiting its leased manufacturing facility in Maryland and its owned plant in France, and moving production to other plants and third parties.
The New York-based company said the restructuring includes "right-sizing its French and Italian organisations" and consolidating Latin America and Canada operations into a single region.
The French plant, located in the Paris suburb of Bezons, has had significant losses over the past 12 years and efforts to address problems have failed, a Revlon spokesman told AFP.