European Stars and Stripes (Newspaper) - September 15, 1991, Darmstadt, Hesse                                Sunday september 15, 1991 the stars and stripes Page 17 Mone Colgate palmolive to Cut 2,000 jobs by the new York times new York a saying it must consolidate its far Flung International operations to keep profits Strong the Colgate palmolive co. Will shrink operations or close nearly a third of its factories. The moves will eliminate 2,000 jobs in its worldwide work Force of 24,800. The company which makes such familiar brands As Colgate toothpaste Ajax Cleanser fab detergent and Irish Spring soap said thursday that the closings would help make its 91 factories More efficient. Colgate palmolive also said it anticipated taking advantage of falling Trade barriers in Europe and North America which would permit fewer plants to produce More goods for entire Trade regions. To cover the Cost of the changes the company will take a third Quarter after tax charge of $243 million or $1.81 a share. But Colgate palmolive executives stressed that the changes did not belie Long term troubles for the $5.7 billion consumer products company. A your Success in recent years has Given Colgate an extraordinarily Strong marketing and financial foundation upon which to build an even stronger faster growing company a said Reuben Mark Colgate a chairman and chief operating officer. A your Outlook for the rest of 1991 is positive As  but some Wall Street analysts cautioned that the decision to Cut so Many jobs a 8 percent of the company a Force and eliminate work at 25 factories indicated that Colgate May still have far to go to reduce overhead. Among the plants to be closed Are factories in Canada por Tugal Belgium and Australia. The company which together with Procter amp Gamble and Unilever is one of the nations largest manufacturers of household care and personal care products in the United states was considered a Success Story of the late 1980s, As Mark breathed a bit of entrepreneurial fire into what had Long been a sleepy Low profit International conglomerate. The company a sales Rose to $5.6 billion in 1990, from $3.4 billion in 1984, while its work Force fell to 24,800 last year from a Peak of 42,800 during the same period. Mark also achieved one goal of his five year plan with an average 17 percent growth in earnings per share annually Over the past six years. Analysts said thursdays move under scored the seriousness of Marks commitment to his new five year plan which pledges to increase earnings by 15 percent a year through 1995. Gregory s. Sigmund an analyst with the investment firm of . Edwards said the plan had placed the company under a great Deal of pressure to keep earnings up. Sigmund said increasing Competition in Europe from Procter amp Gamble and other companies and the company slow profit margins in the United states mean the company must squeeze overhead As much As possible. A in order to achieve their goals they arc going to have to position themselves a Little better to compete a he said. A it is not As if they have stubbed their toe. Its just they must become leaner and  stress busters wearing capsule like headsets japanese office workers take time out to rest in reclining chairs at Tokyo s brain mind gym. The gym advertises that it a offers a relaxing time for those who seek help in easing stress and anxiety that come with working and  inside the headsets Are headphones so patrons can listen to soothing music and special goggles that display patterns of  told to pay cleanups Washington a a Federal appeals court ruled Friday that insurance companies must pay for environmental cleanups their customers make necessary. Attorneys for companies battling their insurers said the ruling by a three judge panel of the . Circuit court of appeals for the District of Columbia could mean insurers would have to pay hundreds of millions of dollars in cleanup costs around the country. But a laywer for the insurers said that while he was disappointed with the decision it was a Only one very Small piece of the  he said it was too Early to estimate the Impact of the decision. Fridays ruling conformed to several rulings in similar cases by state supreme courts. The Case involved the times Beach mo., dioxin scare of the Early 1980s, in which the entire town near St. Louis was bought by the Federal government and evacuated. This year the Federal health official who made the evacuation decision said it appeared the government had overreacted and overestimated the hazards of dioxin. The dioxin was created As a byproduct of a manufacturing process at northeastern pharmaceutical and chemical co., known As Nep acco which hired inde pendent petrochemical co. To dispose of the waste. Pc in turn hired a contractor Russell m. Bliss who mixed the dioxin with waste Oil and spread it on roads around times Beach to control dust. The government is doing the cleanup and seeking $96 million in reimbursement from pc a subsidiary of charter Oil co., which is owned by the charter co. All three companies sued in the action that resulted in fridays ruling. Hie companies sought reimbursement from their insurers who refused saying the coverage did not include such Protection. The suits which involve Only cleanup costs and not allegations of damages or injuries Are still alive in . District court in Washington. In a separate Case involving Nep acco Missouri courts upheld the insurers and the 8th . Circuit court of appeals in St. Louis approved 5-3, in 1988. That court said that under Missouri Law a the term a damages in the Standard form comprehensive general liability insurance. Policy does not include cleanup  the District of Columbia court disagreed. The ruling said the 8th circuits Nep acco decision a fails to apply Missouri a principles of Law. Business general dynamics division to Cut 2 5% of work Force from wire reports Rancho Cucamonga Calif. General dynamics air defense systems division said Friday it will Cut 1,500 jobs or More than a Quarter of its work Force next year at its facilities in Arkansas Arizona and California. The division which makes tactical missiles such As the Standard and the stinger and the Navy a Phalanx anti missile shipboard gun said the cuts reflect a the realities of the marketplace for the foreseeable future. The division which operates plants in Pomona and Rancho Cucamonga in Southern California Camden ark., and fort Defiance on the Navajo reservation in Arizona has reduced its work Force this year by about 2,500 to about 5,700, with 4,700 in California. The division employed nearly 13,000 workers in the late 1980s.frito-Lay plans layoffs Plano Texas a frito Lay inc., the nations leading maker of potato chips and other Salty snacks was to announce layoffs monday that will affect nearly All of the company a approximately 250 . Manufacturing and distribution centers. The layoffs Are part of a restructuring prompted by two internal studies one assisted by an outside consultant and come As frito Lay is facing increased pressure from several competitors. Analysts have said frito Lay May Cut 300 to 450 jobs resulting in an annual savings of $20 million. The cuts Are not expected to affect frito lays 10,000-person sales Force or production employees. The company a studies have focused on Field managers and Headquarters employees.2 junk Bond traders fired new York Merrill Lynch amp co. On Friday became the latest Wall Street firm to disclose employee wrongdoing saying it fired two junk Bond traders for mishandling a customer account. The nations biggest brokerage said the traders were fired sept. 3/the firm said it conducted an internal investigation and filed a report on the incident with the new York Stock Exchange. A Merrill executive who asked not to be named said the Arm said in the Stock Exchange report that the traders were dismissed because they removed a Trade from a clients account and placed it in their own accounts without approval. It was not Clear How much Money was involved in the transaction which violated Merrill rules. The traders were identified As Edward Scherer and Richard Kursman vice presidents in Merrill s High yield Bond sales and trading department. Scherer joined Merrill in july 1990 and Kursman in february 1990