Procter & Gamble announced plans to cut 7,000 jobs over the next two years, representing approximately 15% of its non-manufacturing workforce. The company aims to boost productivity and reduce costs in response to an increasingly challenging environment. In a statement, Procter & Gamble emphasized the need for organizational agility and efficiency, including the use of digitization and automation. Specific regions or work sites affected by the layoffs have not been disclosed. Procter & Gamble, known for brands such as Tide, Bounty, and Pampers, has a global workforce of 108,000 employees. The company also plans to adjust its portfolio, potentially divesting certain brands. Further details will be shared in the coming months. A spokesperson referred inquiries to the company’s official statement. Shares of Procter & Gamble rose slightly in pre-market trading. The company reported a decline in sales growth in its April earnings statement, citing challenging consumer and geopolitical conditions. Its next earnings call is scheduled for July 29. Workforce reductions are occurring across industries due to tariff uncertainties and shifts in consumer spending.
— new from CBS News
