Procter & Gamble (P&G) is reducing 7,000 jobs, shedding about 15% of its non-manufacturing workforce, the corporate stated in a presentation Thursday on the Deutsche Financial institution International Shopper Convention in Paris.
The cuts will happen over the following two years. P&G, which makes family merchandise (Tide, Pampers, Bounty), had about 108,000 staff as of June 2024, per the Wall Road Journal.
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P&G informed the Wall Road Journal in a press release that the cuts aren’t for “cost-cutting functions,” however slightly a reorganization.
Enterprise Insider stories that the presentation was given by CFO Andre Schulten and COO Shailesh Jejurikar, and it famous that expertise was altering the corporate.
“We are able to unlock important progress by higher assembly the wants of presently unserved and underserved customers, increasing into new segments, and rising markets to best-in-class ranges,” the presentation learn.
P&G was based greater than 180 years in the past as a cleaning soap and candle firm. It has been headquartered in Cincinnati, Ohio, since 1837.
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