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In a move to drive operating efficiencies, Revlon Inc has announced that it is to exit its owned manufacturing facility in France and leased manufacturing facility in Maryland, US; right size its French and Italian organisations; and realign its operations in Latin America by consolidating Latina America and Canada into a single region.
The realignment will result in the loss of 250 positions and the company will take a related charge of approximately $25m in the third quarter of 2012. However, annualised cost reductions are expected to be around $10m.