NEW YORK – Colgate-Palmolive, the consumer-products giant behind brands like Ajax detergent and Irish Spring soap, plans to cut its worldwide work force by about 12%, or about 4,400 jobs, and close one-third of its factories as part of a four-year plan aimed at boosting its sales and profits. Its stock climbed nearly 8% on the news.

The moves announced yesterday come as the consumer-products industry has been grappling with higher costs in raw materials, gas, and packaging, all of which have put more pressure on profits.

Colgate-Palmolive also faces increasing competition from larger rival Procter & Gamble, which has taken big bites of the market with an increased focus on skin-care and beauty products, as well as pet-care products.

In September, Colgate-Palmolive issued a rare warning that its profits would fall short of expectations because it faces tougher competition and increased expenses as it headed into the last quarter of the year.

New York-based Colgate said yesterday it would reduce its global work force from its current level of 37,000 and close a third of its 78 factories worldwide during the course of the four-year restructuring effort. The savings from those closures would be invested in sales and marketing initiatives.

During a conference call with investors, the chief executive, Reuben Mark, said that the job cuts would come mostly from manufacturing and said that factories – both general plants and special-purpose plants – are being closed worldwide. He added that notifications were being issued yesterday but didn’t identify the facilities.

The news sent Colgate’s stock up $3.64 to $49.93 in late trading on the New York Stock Exchange

A managing partner at New York-based industry consulting group Strategic Resource Group, Burt Flickinger III, said the new plan is a “strong initiative, but it is too little, too late.”

“Colgate has been milking its worldwide brands for far too long, for both its sales and marketing,” he added. “As Colgate’s brands have been under marketed, it is much easier for retailers’ private label, and other rival brands to undercut Colgate.”

Colgate said yesterday that the plan would result in charges against earnings of between $550 million and $650 million after taxes over the four years, but would generate savings in the range of $250 million to $300 million annually by the fourth year of the program.

In 2005, the charges are expected to amount to $200 million, while the savings should amount to $45 million.

Colgate hopes to improve its financial performance by reducing the number of manufacturing centers with which it does business and managing globally all purchasing, from office supplies to outlets for advertising.

It plans to accelerate marketing innovations and new products, especially in markets that it feels have high potential such as Eastern Europe, Russia, China, and parts of Latin America and Asia.

In the conference call, Mr. Mark noted that the restructuring is about the “de-emphasis on the production end of the business, and an added emphasis on-the-ground distribution, sales, and promotion efforts.”

Mr. Mark added that the plan involves a “substitution of people who meet today’s needs better, unfortunately, than other people.”

However, Mr. Mark told investors during the conference call not to expect innovation at a “torrid” pace.

“We will continue building on quiet innovation that will give us consistent growth in volume and consistent growth in market share,” he said.

The consumer products maker reported in October that its profit fell 10% in the third quarter to $329 million, or 58 cents per share, from $365.4 million, or 63 cents last year. Sales rose to $2.7 billion from $2.52 billion a year ago.

Mr. Mark said the company expects to meet Wall Street expectations for earnings per share for fourth quarter 2004, excluding the restructuring and related charges. He also reaffirmed that earnings per share for 2005 will be within the range of Wall Street’s estimates excluding the restructuring and related charges.

He described Colgate’s worldwide sales and volume trends as “excellent” and said they have continued into the fourth quarter. That will be part of “a strong base on which to begin this four-year, business-building and profitability-increasing effort,” he said.

Colgate-Palmolive sells products in more than 200 countries around the world. Other brands include Colgate toothpaste, Palmolive dishwashing liquid, Softsoap, and Hill’s Science Diet pet foods.