Colgate to Cut About 4,400 Jobs
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Colgate-Palmolive Co. (CL) will cut about 4,400 jobs and close a third of its factories under a program aimed at fighting rising costs and focusing on higher-profit areas such as oral care, the company said on Tuesday.
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The UK's biggest insurer Aviva, which owns Norwich Union, announces plans to cut 4,000 UK jobs by 2008.
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For months, Colgate executives have been hinting that a restructuring was imminent. Still, the scope of the plan that has been unveiled is larger than many analysts had anticipated and is expected to cost $550-$650 million after taxes.
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Sprint Nextel , the No. 3 U.S. mobile service, said on Friday it would cut about 4,000 jobs within the company, close 125 stores and reduce its use of outsourced services to improve its financial performance.
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Colgate-Palmolive Co. plans to cut about 4,440 jobs or 12 percent of its workforce in four years as competition from Procter &amp; Gamble Co.
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TORONTO -- Nortel Networks yesterday gave details of a previously announced job cut program, saying it is cutting 1,400 positions in the United States by next June.
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Charlotte-based Bank of America Corp. will slash 4,500 positions from its work force, or about 2.5% of its payroll. The company expects to incur charges of $150 million over three quarters, beginning in the third quarter, from severance payments.
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CHARLOTTE, NC - Bank of America said Thursday it will cut about 4,500 jobs beginning this month as a result of its merger with FleetBoston Financial Corp.
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NEW YORK - Colgate-Palmolive Co, which makes consumer products like Colgate toothpaste and Ajax detergent, plans to cut its work force by about 4,400 jobs as part of a restructuring plan aimed at boosting its sales and profits around the world.
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Goodyear Tire & Rubber Co. said on Friday it will cut 340 jobs in its engineered products and chemical units as part of its cost-reduction efforts, resulting in a third-quarter charge.
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Cell phone maker Motorola Inc. said Wednesday it will cut another 4,000 jobs as part of a plan aimed at improving sagging financial and operational results.
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Employers eliminated 4,000 jobs in August, the Labor Department said today, showing that the job market was soft even as conditions in credit markets began to deteriorate.
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NEW YORK - Colgate-Palmolive Co., which announced Tuesday that it is eliminating 4,400 jobs, disclosed in a regulatory filing that many of its top executives and officers are given allowance of up to $11,500 a year to spend on anything from pet-sitters to
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The announcement comes after Sprint last week reported deeper-than-expected customer losses for the fourth quarter and said it would cut about 4,000 jobs in a bid to reduce costs.
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US wireless telecommunications firm Sprint Nextel announced it was cutting 4,000 jobs Friday, saying it anticipated "downward pressure" on its profits in the coming year.
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The Bank of America Corporation said yesterday that it would cut an additional 4,500 jobs from its ranks, beginning this month, as it simplifies operations.
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Colgate-Palmolive Co. will cut about 4,440 jobs and close a third of its factories and put the savings into advertising and product development amid rising competition with Procter &amp; Gamble Co.