Gillette to cut jobs by 11% as results lag

Article Abstract:

The Gillette Company announced that it was downsizing 11% of its labor force as part of its reorganization strategy. The percentage comes out to 4,700 jobs. Gillette also cautioned that it is expecting to post poor financial results for the 1998 third-quarter. The company stated that quarterly earnings would be 20% lower compared to the same period in 1997. This was mainly the result of a $535 million charge against earnings.

Comment:

Announces it is downsizing 11% of its labor force as part of its reorganization strategy

Labor force information, Sales, profits & dividends, Cutlery and Flatware (except Precious) Manufacturing, Razor Blades & Razors ex Electric, Gillette Co., Razors

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Seeking to expand, Korn Ferry files for initial public offering

Article Abstract:

Korn Ferry International has filed for an initial public offering with the Securities and Exchange Commission (SEC). Korn is planning to use the revenues from the IPO for the expansion of its operations. The firm is expecting to produce approximately $230 million from the offering. The revenues will be used to pay corporate debts, redeem preferred shares, expand into the Internet, and carry out acquisitions.

Comment:

Files for an initial public offering with the Securities and Exchange Commission

Organizational history, Employment Placement Agencies, Employment Agencies, Employment services, Korn Ferry International

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