Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

Procter & Gamble to cut 7,000 jobs as part of broader restructuring

by admin June 7, 2025
June 7, 2025
Procter & Gamble to cut 7,000 jobs as part of broader restructuring

Procter & Gamble will cut 7,000 jobs, or roughly 15% of its non-manufacturing workforce, as part of a two-year restructuring program.

The layoffs by the consumer goods giant come as President Donald Trump’s tariffs have led a range of companies to hike prices to offset higher costs. The trade tensions have raised concerns about the broader health of the U.S. economy and job market.

P&G CFO Andre Schulten announced the job cuts during a presentation at the Deutsche Bank Consumer Conference on Thursday morning. The company employs 108,000 people worldwide, as of June 30, according to regulatory filings.

P&G faces slowing growth in the U.S., the company’s largest market. In its fiscal third quarter, North American organic sales rose just 1%.

Trump’s tariffs have presented another challenge for P&G, which has said that it plans to raise prices in the next fiscal year, which starts in July. The company expects a 3 cent to 4 cent per share drag on its fiscal fourth-quarter earnings from levies, based on current rates, Schulten said. Looking ahead to fiscal 2026, P&G is projecting a headwind from tariffs of $600 million before taxes.

P&G, which owns Pampers, Tide and Swiffer, is planning a broader effort to reevaluate its portfolio, restructure its supply chain and slim down its corporate organization. Schulten said investors can expect more details, like specific brand and market exits, on the company’s fiscal fourth-quarter earnings call in July.

P&G is projecting that it will incur non-core costs of $1 billion to $1.6 billion before taxes due to the reorganization.

“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.”

P&G follows other major U.S. employers, including Microsoft and Starbucks, in carrying out significant layoffs this year. As Trump’s tariffs take hold, investors are watching Friday’s nonfarm payrolls report for May for signs of whether the job market has started to slow. While the government reading for April was better than expected, a separate reading this week from ADP showed private sector hiring was weak in May.

Shares of P&G fell more than 1% in morning trading on the news. The stock has fallen 2% so far this year, outstripped by the S&P 500′s gains of more than 1%. P&G has a market cap of $407 billion.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
S&P 500 on the Verge of 6,000: What’s at Stake?
next post
Editor’s Picks: Marathon Project Gets Nod, Rio Tinto Opens Western Range, Indonesia Probes Nickel Mining

Related Posts

From tariffs to DOGE, what companies are saying...

February 19, 2025

S&P downgrades multiple U.S. banks on growing liquidity...

August 23, 2023

Social Security Administration to expand access to certain...

May 13, 2024

Vince McMahon plans to sell a big chunk...

November 13, 2023

Trump clears Nippon merger with U.S. Steel

May 24, 2025

Chevy Bolt owners to receive settlement checks after...

May 20, 2024

Private payrolls increased by 192,000 in April, more...

May 2, 2024

Boeing’s Starliner losses top $2 billion after spacecraft...

February 6, 2025

Paramount ends DEI policies, cites Trump executive order

February 28, 2025

Walmart shifts to India from China for cheaper...

December 1, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Everyone Talks About Leaving a Better Planet for Our Children: Why Don’t We Leave Better Children for Our Planet?

    • Big Rally Ahead Should Yield All-Time High on This Index

    • Your Weekly Stock Market Snapshot: What It Means for Your Investments

    • From Tariffs to Tech: Where Smart Money’s Moving Right Now

    • Week Ahead: NIFTY’s Behavior Against This Level Crucial As The Index Looks At Potential Resumption Of An Upmove

    • Hempalta Provides Strategic Update Regarding Equipment Sale and FCC Agreement

    Categories

    • Business (1,234)
    • Investing (2,534)
    • Politics (3,699)
    • Stocks (1,636)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved