Procter & Gamble has announced a major restructuring plan, cutting 7,000 jobs in a move aimed at streamlining operations and adapting to shifting consumer behavior. The layoffs, revealed at the Deutsche Bank Global Consumer Conference, primarily target white-collar positions, affecting 15% of the company’s non-manufacturing workforce.
The decision comes amid a 2% drop in net sales, with P&G revising its fiscal outlook to flat growth, down from an earlier 2-4% projection. Economic uncertainty and changing spending habits have contributed to the slowdown, with 50% of U.S. consumers cutting back due to tariff-related costs.
Sources:
https://www.fastcompany.com/91346770/procter-and-gamble-layoffs-pg-stock-steady-amid-mass-job-cuts
https://www.thehrdigest.com/procter-gamble-layoffs-signal-restructuring-amid-sales-slip/