Gillette to shut 14 of its plants, lay off 4,700

Article Abstract:

Gillette Co. announced that it would shutdown 14 factories and downsize 11% of its labor force. The company also stated that it would assume a charge of $350 million for the third-quarter of 1998. Gillette has been experiencing a drop in retail orders in several of its markets overseas. The company also said that it is expecting to post an approximately 6% to 7% fall in the 1998 third-quarter.

Comment:

To shutdown 14 factories, downsize 11% of its labor force, and take a $350 mil charge for 1998 third-quarter

Strategy & planning, Cutlery and Flatware (except Precious) Manufacturing, Razor Blades & Razors ex Electric, Gillette Co., Razors

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Cendant's McLeod leaves two positions at marketing concern

Article Abstract:

Christopher K. McLeod's resignation as vice chairman and as director was announced by Cendant Corp. The resignation further cut the number of directors at Cendant who had been former directors of CUC International Inc. The company said it expects Mr. McLeod to stay on as the CEO of its software unit until the unit is sold by early 1999 as expected.

Comment:

Christopher K. McLeod's resignation as vice chairman and as director announced by Cendant Corp.

Executive changes & profiles, Company Personnel, Patent Owners & Lessors, Lessors of Nonfinancial Intangible Assets (except Copyrighted Works), Patent licensing, Avis Budget Group Inc.

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