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Colgate to Eliminate 600 Jobs

October 14, 1987|From Reuters

NEW YORK — Colgate-Palmolive Co. said today it will cut 600 jobs, take a $211-million pretax charge and suffer a third-quarter loss as it continues a restructuring aimed at giving the company more punch.

The manufacturer of such household names as Colgate toothpaste, Ajax cleanser and Palmolive and Fab detergents said the moves will also reduce its annual earnings. As part of its reorganization efforts, Colgate also said it will sell two units of its Boston-based Kendall Co. division, which makes nonwoven fabrics, for about $200 million.

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