Today, Procter & Gamble announced that it is reducing its workforce by 7,000 jobs. The 6% cut to its total workforce over the next two years comes as part of a new restructuring plan aimed at addressing tariffs and uneven consumer demand.
According to company executives who made the announcement at the Deutsche Bank Consumer Conference in Paris, P&G will also work towards exiting certain product categories and brands in specific markets.
COO Shailesh Jejurikar said the global landscape was “unpredictable” and that consumers were dealing with “greater uncertainty.”
The job cuts account for 15% of the company’s non-manufacturing workforce.
Jon Moeller, President and Chief Executive Officer told investors: “We remain committed to our integrated growth strategy of a focused product portfolio of daily use categories where performance drives brand choice, superiority — across product performance, packaging, brand communication, retail execution and consumer and customer value — productivity, constructive disruption and an agile and accountable organization.”
In April, the company announced a 2% revenue drop and indicated that it would raise prices on certain products to offset the impact of tariffs.
By CEO NA Editorial Staff
