The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20.42 - Manufacture of perfumes and toilet preparations
4,400 jobs Number of planned job losses
Announcement Date
7 December 2004
Employment effect (start)
Foreseen end date
Description
Colgate-Palmolive announced on 7 December 2004 plans to cut 12% of its workforce and close a third of its 78 factories worldwide as it struggles with rising raw material and energy costs and intense competition. The company, which sells its products in 223 countries, said it intends to source products from fewer, more sophisticated state-of-the art factories. The firm intends to put renewed focus and investment on developing markets including eastern Europe, Russia, China, Latin America and other parts of Asia. That will include beefing up sales and marketing functions in those countries and regions. Most of the job losses will be in manufacturing plants. The programme put a de-emphasis on the production end of the business and an added emphasis on on-the-ground distribution, sales and promotion efforts.
Sources
8 December 2004: The Guardian
Citation
Eurofound (2004), Colgate-Palmolive, Internal restructuring in World, factsheet number 60856, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60856.
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