More than 3000 job losses expected at Colgate

More than 3000 job losses expected at Colgate

colgateColgate-Palmolive representatives said the company would cut more jobs under an extended restructuring programme, according to Reuters reports. The world’s largest toothpaste maker is grappling with tough macro-economic conditions, including a strong dollar.

The programme, which is expected to end in December 2017, will result in the reduction of 3,300 to 3,800 positions globally.

The company, which gets more than three-fourths of its revenue from outside the United States, has been raising prices to counter the impact of the stronger dollar. But that has hit volumes in regions such as Latin America, the company’s biggest market by sales.

The company also said it would cut costs on its supply chain and focus on expanding its commercial hubs.

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