Consumer-products giant sent reeling

Article Abstract:

The stock value of Procter and Gamble Co has declined so precipitously that analysts believe the company's top management has lost it focus. Argus Research analyst Daniel Peris opined that the consumer products giant's woes can be largely attributed to its declining research, product development and marketing efforts since 1990. Procter and Gamble is being pressured by rapidly increasing raw material costs, a delay in the approval of its osteoporosis drug Actonel, intensifying international competition and a costly corporate restructuring.

Financial analysis

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EToys to fire remaining workers as cash runs out

Article Abstract:

EToys announced that it will lay off its remaining 293 employees and will run out of cash by Mar 31, 2001 unless it can find a buyer. The online toy retailer added that its stock would be delisted from Nasdaq, which closed at 14 cents per share on Feb 5, 2001. EToys said it would continue working with investment bank Goldman Sachs in exploring a range of strategic alternatives, including a merger, sale or restructuring. The company is also closing its two distribution centers and discontinue European operations, including its British Web site.

Game, Toy, and Children's Vehicle Manufacturing, Toys, EToys Inc.

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'In a crisis,' Procter & Gamble resorts to 9,600 more layoffs

Article Abstract:

Procter and Gamble Co (P&G) plans to eliminate an additional 9,600 positions bringing to 24,600 the total number of employees who will lose their jobs by 2004. This comes after P&G CEO A.G. Lafley admitted on Mar 22, 2001 that the consumer giant has been in a crisis for the last nine months. Lafley conceded that he had to make the painful decision owing to a general lack of innovation and a large number of overpriced products. Currently, P&G is experiencing sluggish sales, declining market share and falling stock price.

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