In an 8-K filing, Avon (NYSE:AVP) discloses it has “approved actions primarily consisting of global headcount reductions relating to an information technology infrastructure outsourcing initiative.” $30M in pre-tax charges are expected, with $20M expected to be recorded in the January quarter.
The “initiative” in question: Avon has hired HP Enterprise (NYSE:HPE) to “transform key elements of Avon’s global IT infrastructure.” As part of the dea, HPE will “identify cost efficiencies and provide tools and processes to operate more consistently.”
