News Summary: Colgate to cut 6 pct. of workforce

AP News
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Posted: Oct 25, 2012 11:56 AM

NEW YORK (AP) — GETTING THE GATE AT COLGATE: Colgate-Palmolive will cut more than 2,310 workers, or 6 percent of its workforce, by the end of 2016

JUGGLING ACT: The layoffs are part of an overall restructuring plan. Colgate, which is based in New York and has 38,600 employees, wants to streamline global functions.

GLOBAL GROANS: Consumer product companies face a challenging global environment. They have increasingly looked outside of the U.S. to sustain growth but that has become problematic because of cooling growth in China and a financial crisis in Europe. The stronger dollar is also hitting companies that do business globally.