Avon is set to be cutting 2,300 jobs this year.
The plan for the company is to reduce its global workforce by a tenth, which would save the business £100m in expenses.
Jan Zijderveld, chief executive, said in a statement: “Decisions like these are always difficult. However, we must take the actions necessary to improve our operations and strengthen our ability to continue investing in our transformation initiatives and fuel our future growth.
“I would like to express my sincere gratitude to the talented employees affected by this restructuring, and we will do our utmost to ensure everyone is treated with fairness and respect.”
A year ago, Avon employed 25,000 people, but cut its headcount by 8% in 2018.
The company has not disclosed which parts of the business the cuts will affect.
Its market capitalisation has dropped from around $22bn in 2004, to just $823m.
