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 Nobel Prize in economics was awarded to a trio of researchers Monday for their work...
