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Avon exits Ireland, cuts jobs

The direct-selling makeup company is also leaving S. Korea and Vietnam as it tries to focus on its big overseas markets, Brazil and Russia. Avon (AVP) said it would cut 400 jobs, primarily from Europe, the Middle East and Africa as Avon aims to restructure or close underperforming markets. The cuts are expected to generate $45 mil-$50 mil in savings annually. Avon's CEO Sheri McCoy, who took the reins a year ago, plans to return the company to profitability by '15. Shares rose 1.7% to 20.61.