Procter & Gamble will cut up to 7000 jobs over the next two years as the maker of Gillette and Pampers nappies implements a restructuring program at a time when tariffs are raising costs for US companies and consumers are growing anxious about the economy.
The job cuts, announced at the Deutsche Bank Consumer Conference in Paris on Thursday, make up approximately six per cent of the company’s global workforce, or about 15 per cent of its non-manufacturing positions, Chief Financial Officer Andre Schulten said.
“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 company makes a range of household brands including Ariel, Oral-B, Always and Tampax, and hair care brands Head & Shoulders and Herbal Essences.
Procter & Gamble will also end sales of some of its products in certain markets.
The company said it will provide more details about that in July.
In April Procter & Gamble noted during a conference call that the biggest US tariff effects were coming from raw and packaging materials and some finished product sourced from China.
The company said that it would be looking at sourcing options and productivity improvements to mitigate the tariff impact but that it may also have to raise prices on some products.
with PA
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