23 July 2019

Revlon to quit China, eliminate 1,100 jobs, Bloomberg says

Cosmetics maker Revlon Inc. will cease operations in China and eliminate about 1,100 positions, including 940 beauty advisers, as it restructures its struggling business, Bloomberg News reported on Wednesday, citing a US regulatory filing. China makes up about 2 percent of Revlon’s net sales, and the restructuring will result in about US$22 million of pretax charges, the New York-based company was quoted as saying. The changes are expected to reduce costs by about US$11 million a year.

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