Procter & Gamble (P&G) is cutting 7,000 jobs, laying off about 15% of its non-manufacturing workforce, the company said in a presentation Thursday at the Deutsche Bank Global Consumer Conference in Paris.
The cuts will take place over the next two years. P&G, which makes household products (Tide, Pampers, Bounty), had about 108,000 employees as of June 2024, per the Wall Street Journal.
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P&G told the Wall Street Journal in a statement that the cuts aren’t for “cost-cutting purposes,” but rather a reorganization.
Business Insider reports that the presentation was given by CFO Andre Schulten and COO Shailesh Jejurikar, and it noted that technology was changing the company.
“We can unlock significant growth by better meeting the needs of currently unserved and underserved consumers, expanding into new segments, and growing markets to best-in-class levels,” the presentation read.
P&G was founded more than 180 years ago as a soap and candle company. It’s been headquartered in Cincinnati, Ohio, since 1837.
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