Avon shrinks workforce after loss

Avon posted weaker-than-expected third quarter sales yesterday, hurt by a big drop in North America and in growing markets like Mexico and Russia, and said the size of its sales force had shrunk. Revenue fell seven per cent to $2.26bn, including the impact from currency fluctuations. Avon reported a net loss of $5.5m compared with a profit of $31.6m a year earlier.

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