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Revlon to Cut Jobs

Part of a restructuring and cost-savings operation

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By: Jamie Matusow

Editor-in-Chief

Revlon Inc. has announced plans to cut 250 jobs—about 5% of its workforce—as it exits two plants as part of a restructuring aimed at cutting costs.

In its most recent quarter, revenue rose 1.7%, as increased sales in the U.S. and Latin America were offset by a 4% drop in Asia Pacific and a 15% drop in Europe, the Middle East and Africa.

The cosmetics and personal care manufacturer, whose brands include Almay, Mitchum and its eponymous lines, plans to close its manufacturing plant in France and leave its leased manufacturing plant in Maryland. It will move manufacturing to other plants and third parties.

It will also restructure operations in France and Italy and realign its operations in Latin America, including consolidating Latin America and Canada into one region.

Revlon employs about 5,200 people overall.

The company expects to save $10 million annually from the moves, including $9 million in 2013.

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