Procter & Gamble to Cut 7,000 Jobs Amid Restructuring

Procter & Gamble announced plans to reduce its workforce by 7,000 jobs over the next two years, representing about 6% of its global workforce and 15% of its non-manufacturing staff. The restructuring aims to address challenges posed by tariff-related expenses and declining consumer confidence amid economic uncertainty.
The company also plans to exit certain product categories and brands in specific markets. CFO Andre Schulten emphasized that the restructuring is part of a broader strategic plan to improve efficiency through digitization and automation. The cost of the initiative is estimated between $1 billion and $1.6 billion before taxes.