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 10, 2025
June 10, 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
Procter & Gamble to cut 7,000 jobs as part of broader restructuring
next post
1911 Gold Intersects up to 58.66 g/t Gold over 1.40 m on San Antonio West Zone at True North

Related Posts

Skechers to be acquired by 3G Capital in...

May 6, 2025

Ivan Boesky, inspiration for ‘Wall Street’ villain Gordon...

May 21, 2024

Target says it will close nine stores in...

September 27, 2023

Cargo thieves are attacking the U.S. supply chain...

May 11, 2025

Musk’s brain implant company filed as a ‘disadvantaged...

July 20, 2025

Top Anheuser-Busch marketing executive is leaving after collapse...

November 18, 2023

Ascension Health, largest Catholic hospital chain in the...

May 10, 2024

Advertisers boost spending at retailers such as Walmart...

May 25, 2024

From pandemic struggles to St. Patrick’s Day crowds,...

March 17, 2025

First the token, now the swipe: NYC’s subway...

March 20, 2025

    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

    • A Wild Ride For the History Books: 2025 Mid-Year Recap

    • Is META Breaking Out or Breaking Down?

    • Freegold Significantly Upgrades and Expands Resources at Golden Summit

    • Drill Program Planning at Flagship Mosseau Project in Quebec is Complete: Regional Exploration Plans at Labelle and Urban Barry Properties Commissioned

    • Maritime Commences Construction at Hammerdown, Adds to Technical Team

    • FPX Nickel Provides Update on Normal Course Issuer Bid

    Categories

    • Business (1,299)
    • Investing (2,718)
    • Politics (3,699)
    • Stocks (1,742)
    • 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