US cosmetics giant Revlon said Wednesday it will cut 250 jobs and close two plants, one in Maryland and another in France, in a restructuring aimed at $10 million in cost savings.
Revlon said in a statement it was exiting its leased manufacturing facility in Maryland and its owned plant in France, and moving production to other plants and third parties.
The New York-based company said the restructuring includes "rightsizing its French and Italian organizations" and consolidating Latin America and Canada operations into a single region.
The French plant, located in the Paris suburb of Bezons, has had significant losses over the past 12 years and efforts to address problems have failed, a Revlon spokeswoman told AFP.
Revlon, the maker of cosmetics, hair coloring and Gatineau skincare products, did not specify where the 250 jobs will be eliminated.
The company expects to take third-quarter charges of $25 million and anticipates realizing $9 million of the savings from the closures in 2013.
Revlon shares were down 1.5 percent at $12.99 in afternoon New York trade.