Avon
November 3, 2022
Avon Products said its board approved a plan on November 3, 2022 to close its research and development facility in Suffern, New York, and relocate research operations to Brazil, co-located with Natura's Cajamar innovation center, and to Poland. The move is expected to be completed by the quarter ending June 30, 2024. Avon has conducted research in New York for 125 years.
The company estimated restructuring costs of about 39.0 million dollars between 2022 and 2025, about 10 million dollars of capital spending, and a possible non-cash impairment of 35 million to 40 million dollars. A New York WARN notice listed 138 affected employees, with separations beginning in February 2023.
Chief executive Angela Cretu said the change is part of the Open Up and Grow strategy and will bring Avon's scientists closer to the group's other research teams. Avon is owned by Natura &Co.