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December 18, 2000
By: TOM BRANNA
Editor
The Gillette Co. said Monday it plans to cut about 2,700 jobs, or 8% of its workforce, and close eight factories over the next year to reduce costs so it can improve profit.Gillette also said first-quarter profit will be significantly below Wall Street’s expectations. During a conference call to discuss the job cuts, Chief Financial Officer Charles Cramb said Gillette anticipates first-quarter 2001 earnings of between 18 cents and 21 cents per share. The company was expected to earn 26 cen...
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