Mcbride Toothpaste Maker Sacking 250 Jobs

[Its time to buy]

McBride to cut jobs as costs bite

2 hours ago

Private label household goods firm McBride said it planned to axe one-tenth of its UK workforce as "unprecedented" cost inflation bears down on profits.

The company, which makes products such as laundry liquids, mouthwash and toothpaste for supermarkets, has been hit by surging oil prices.

It is set to cut 250 jobs from its 2,500-strong UK workforce under an overhaul of its UK manufacturing sites to cut costs.

McBride is closing its Coventry base and scaling back its Warrington presence in order to move to a new site in St Helens. It hopes to save £1 million a year in overhead costs through the shake-up.

http://ukpress.google.com/article/ALeqM5jl...NfuaaUJ4nCDMShQ

[Bearback]

All these job losses leaves a bad taste in the mouth.

[Bearback]

Three stripes and you're out.

Edit: spelling

Edited September 4, 2008 by Bearback

[Guest sillybear2]

I blame inflation, once it's out of the tube you can never get it back in.

[Its time to buy]

This I dont think was covered here - reuters released the news at 9:30 this morning, and I think in a RNS by the company [a PLC].

No mention on the BBC website at all - this one slipped through the radar.

No puns on this post, dont bother looking! - I'll think of one later.

Edited September 4, 2008 by notanewmember

[PotNoodle]

Private label household goods firm McBride said it planned to axe one-tenth of its UK workforce as "unprecedented" cost inflation bears down on profits.

The company, which makes products such as laundry liquids, mouthwash and toothpaste for supermarkets, has been hit by surging oil prices.

Fosset Arkle, a spokesman for McBride, told the Times today, "We can no longer continue to work

for Tesco, selling our laundry, mouthwash and toothpaste products to Asda."

When questioned, Mr Arkle admitted that Tesco was paying McBrides to supply Asda at a considerable

discount.

"Yes, we use crude oil in all our prodcuts and , yes, we and Tesco are aware there is a carcinogenic

factor present. But only a certain percentage of Asda's customers are being affected and Tesco will

only gain an estimated 18% increase in market share from the subsequent effects of Asda customers

mouthwashing with a benzene based product."

Mr Arkle was also asked to explain his use of the word "axe" in relation to McBride emplyees but

the spokesman hurriedly left the building.

[Guest sillybear2]

I bet the employees are foaming at the mouth.

[bobed]

So inflation caused the problem, not interest rates?

[scuuzeme]

The meedja will no doubt claim that this is due to "The Credit Crunch", whereas like so many things in the news it's down to inflation and has FA to do with TCC.

I suppose they'll wake up. Eventually.

[Guest sillybear2]

The meedja will no doubt claim that this is due to "The Credit Crunch", whereas like so many things in the news it's down to inflation and has FA to do with TCC.

I suppose they'll wake up. Eventually.

Depends, the crunch was the result of run away credit creation (inflation), hyper-inflation in one asset class simply spilled over to another, but it's all inflation at the end of the day.

[DementedTuna]

Let me guess, instead of paying men to screw the little caps on toothpaste, they've now got a machine to do it?

Charlie's going to be eating nothing but cabbage soup this winter.