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Revlon to exit China business to cut costs

Updated: December 31, 2013 11:22AM



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.

Besides its namesake brand of makeup and hair dye, Revlon also makes cosmetics under its Almay and SinfulColors brands.



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