Colgate-Palmolive plans HQ move to Basel

Toothpaste and soap company Colgate-Palmolive is planning to move its European headquarters from Geneva to the canton of Basel, affecting 65 positions, according to a report.

The New-York-based consumer goods company wants to merge its regional headquarters operations with those of its subsidiary, GABA International, based in Therwill in the canton of Basel, the Tribune de Genève reported online.

The move is subject to consultation process but the company hopes to benefit from “synergies” through the move, the newspaper said, citing a company message.

Lyse Pachoud, a spokesman for the multinational, is quoted as saying that 20 percent of the Geneva employees are likely to refuse moving to Therwil and will therefore quit the company.

The rest, expats for the most part, are expected to move to Therwil, the Tribune said.

The company, which announced a net profit of $2.47 billion in 2012, reportedly has a plan in place to provide severance and other help to those who are either unable or unwilling to leave Geneva.

It was less than nine years ago that the Colgate-Palmolive announced that it was moving its headquarters for Europe, the Middle East and Africa to Geneva from Paris.

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