Procter & Gamble will cut up to 7,000 jobs, or approximately 6% of its global workforce, in the next two years as the maker of Tide detergent and Pampers diapers wrestles with tariff-related costs and customers who have grown anxious about the economy.
The job cuts, announced at the Deutsche Bank consumer conference in Paris on Thursday, make up about 15% of its current non-manufacturing workforce, said chief financial officer Andre Schulten.
“This restructuring program is an important step toward ensuring our ability to deliver our long-term algorithm over the coming two to three years,” Schulten said. “It does not, however, remove the near-term challenges that we currently face.”
Procter & Gamble, based in Cincinnati, had approximately 108,000 employees worldwide in June 2024.
The cuts are part of a broader restructuring program. Procter & Gamble will also end sales of some of its products in certain markets. Procter & Gamble said it will provide more details about that in July.
The White House budget director, Russell Vought, said on Friday that the Trump administration will freeze...
The Nobel Prize in economics was awarded to a trio of researchers Monday for their work...
