Avon Products Inc. (AVP) unveiled another round of streamlining, disclosing plans to cut another $200 million in costs as the cosmetics company continues its years-long restructuring.

The new restructuring program will cut 2,500 to 3,000 jobs, including existing vacancies, globally over the next four years.

The original effort, begun in 2005, is expected to result in annual savings of about $430 million by 2011-2012, with about another $450 million expected to be saved beginning in 2010 -- $200 million from product-line simplification and $250 million from "strategic sourcing initiatives," pushing the total from the previously announced restructuring moves to nearly $900 million a year, above prior expectations.

Thursday's announcement will add to that amount by $200 million by 2012-2013 as the company implements a new program focusing on its global supply chain operations and realignment of certain local business support functions. The move is expected to cost Avon $300 million to $400 million to implement.

"We will continue our constant turnaround mentality," Charles Cramb, vice chairman, chief finance and strategy officer said Thursday at the Consumer Analyst Group of New York Conference held in Boca Raton, Fla. "We are constantly challenging everything we do -- what, how and where."

Separately, the company announced initiatives for 2009 that include freezing the number of positions and worldwide salaries, with exceptions for labor agreements and high-inflation markets. The company is also reducing costs beyond compensation, with a targeted 35% reduction in travel and entertainment expenses.

To appeal to a more budget-conscious consumer, Avon said it will add more emphasis to its "smart value products." Those products generally sell for around $5, according to one analyst. However, the beauty company said its not backing off its "strategic pricing."

"Our broad product assortment at all price tiers allows us to rebalance our product mix as consumers need a shift," said Chairman and Chief Executive Andrea Jung.

The company is also boosting its recruiting efforts during the recession, shifting its advertising investment there from 10% to 20%, with the hopes of attracting some women who may be out of work in the current economy.

"In 2009, we are making the boldest recruiting statement ever," Jung said.

Earlier this month, Avon said fourth-quarter net income rose 80% amid year-earlier restructuring charges as revenue fell on the stronger dollar and weaker volume.

At that time,Chief Executive Jung said "it is prudent" to assume this year will be "challenging."

Shares of Avon were recently trading at 19.54, down 28 cents, or about 1.4%.

-By Kelly Nolan; Dow Jones Newswires; 201-938-4049; kelly.nolan@dowjones.com

(Katherine E. Wegert contributed to this story.)