TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Revlon to exit China business to cut costs

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

By The Associated Press
Wednesday, Jan. 1, 2014, 12:01 a.m.
 

Revlon is leaving China and cutting 1,100 jobs as part of a cost-cutting measure.

In a regulatory filing Tuesday, the cosmetics company said it will save it $11 million a year from the retreat. Its operations in China make up 2 percent of the company's total sales.

Revlon expects to take a $22 million charge, with about $10 million to pay for employee severance and other benefits. About $12 million of that charge consists of product discounts and inventory write-offs.

Revlon makes hair dye and cosmetics under its namesake brand and its Almay and SinfulColors brands.

Subscribe today! Click here for our subscription offers.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Mud serves as multipurpose tool in $100B shale industry
  2. Shift in what powers the grid raises concerns about fuel diversity
  3. Mylan closes $5.3B tax-lowering deal with Abbott Labs
  4. Free-market thinker Hall to lead Congressional Budget Office
  5. Rue21 adjusts for tough market
  6. Economist Hubbard says GOP should grow number of workers
  7. Wolf tax proposal puts Beaver County Shell plant at risk, gas group head says
  8. ‘Shark Tank’ companies have change of heart
  9. Easier home loan rules worry some
  10. Tech sector’s stocks strong
  11. Colorado a handsome contender