Thread regarding Colgate-Palmolive Co. layoffs

Voluntary Early Retirement Program (VERP) was communicated yesterday

A Voluntary Early Retirement Program (VERP) was communicated yesterday to approximately 150 Corporate employees, to generate savings and efficiencies in Corporate functions. As with other elements of the GGEP program, we intend to invest the savings in accelerating business growth and profitability.

This program is being offered to EICP Corporate employees below the VP level at our Park Avenue and Piscataway locations who have achieved age 55 with 10 years of service, or whose combined age and years of service totals 85, by a specified date. Details of the VERP are being shared with eligible individuals who will have 45 days to consider this option. The communications, sent to the homes of eligible employees yesterday, are personal and confidential and their decisions will be entirely voluntary.

by Anonymous
| 4271 views | | 6 replies (last June 9, 2017) | Reply
Post ID: @OP+NA0hIEv
Comment! It's anonymous!

6 replies (most recent on top)

4Q2017 is going around a lot lately about layoffs . With only three categories left :Oral,Personal and Toothbrush, sales are not doing well in any of the categories. Once the VERP is done with the upper levels, it makes sense to go after the lower levels especially if you have been around for 20 plus years. Do you go after performance, the least liked...or do they get rid of people in the US to give more of the jobs for non-us employees. People are being moved around, but what is the end game? This time around, Colgate employees are listening and watching and waiting. Not a lot of talking going around, but people are really paying attention for once. I do see a blood bath after the Verp is done. But if the company is getting ready for a sale ..it surprises me they are willing to work with a skeleton crew. VP"s are smiling more than ever these days. You be the judge of the meaning of this.

by Anonymous
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Post ID: @7cnu+NA0hIEv

VERP is always the first step - they will use this to eliminate people who would have left anyway - once the numbers are in and they know how many folks will be in this group they will have data they need to estimate the size of the layoff that is planned for Q4 2017.

Take this with a grain of salt as all of this is just rumors for now, but there are many signs that indicate that we all should be VERY concerned.

by Anonymous
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Post ID: @6xkz+NA0hIEv

Just heard this is only applies to director level and above??

by BP
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Post ID: @6efo+NA0hIEv

Amazing if I'm reading that right, the VP's and above, who let the company wallow into mediocrity are not effected?

by Anonymous
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Post ID: @3brh+NA0hIEv

Rumors are swirling of a 4Q layoff. Even the so call golden children are putting their resumes together. Moral will forever be at a all time low. I hope they provide a fair package to all levels before all is said and done. If we can get a 100 per share..that would be nice. Get your house in order to be on the safe side.

by Anonymous
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Post ID: @2oeo+NA0hIEv

That's always the first step. Once they finalize this, they will start with regular layoffs.

by Anonymous
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Post ID: @ydo+NA0hIEv

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