Avon to slash jobs, move HQ to UK

Cosmetics maker Avon Products Inc. announced yesterday plans to cut 2,500 jobs worldwide and move its corporate headquarters to the United Kindom from New York City.

Earlier this month, Avon closed on the sale of most of its North American business to Cerberus Capital, its biggest investor.

The 28,300-employee company has recorded four years of falling sales.

Read more from Reuters.