Avon to reduce global IT headcount
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The Avon Products headquarters is seen in midtown Manhattan area of New York, June 21, 2013. REUTERS/Brendan McDermid
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(Reuters) - Beauty products maker Avon Products Inc (NYSE: AVP) said it would cut some global IT jobs after hiring Hewlett Packard Enterprise Co (NYSE: HPE) to run some of its technology operations.
Avon, which expects the program to be completed by the end of 2016, did not specify how many employees would be affected. (1.usa.gov/1UAkPwe)
The company said in a filing it expects pre-tax savings of $10 million-$15 million annually, beginning 2019.
Avon, which in December sold the majority of its North American business to Cerberus Capital, said it expected to record a charge of about $30 million.
Hewlett Packard will operate Avon's IT infrastructure in four areas, offering data center services, network management among other services.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Sriraj Kalluvila)
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