Colgate Plans To Axe 6% Of Its Workforce By 2016

Consumer goods giant Colgate-Palmolive just announced its Q3 earnings, which came in ahead of expectations.

“Our growth momentum continued on the top line as well, with organic sales increasing a healthy 5.0% during the quarter, led by the emerging markets where organic sales grew a robust 9.5%,” said CEO Ian Cook.

However, what stood out were the details of its new restructuring plan.

“It is expected that by the end of 2016, the 2012 Restructuring Program will reduce the Company’s global employee workforce by approximately 6% from the current level of 38,600,” wrote management.

Just when we thought companies couldn’t trim any further, we get this.

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