Procter & Gamble will cut up to 7,000 jobs, or approximately 6% of its global workforce, over the next two years as the maker of Tide detergent and Pampers diapers implements a restructuring program amid an environment dealing with trade wars and customers anxious about the economy.

The job cuts, announced at the Deutsche Bank Consumer Conference in Paris on Thursday, make up approximately 6% of the company’s global workforce, or about 15% of its nonmanufacturing positions, said Chief Financial Officer Andre Schulten.

“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.

  • talEnglish
    14·
    20 hours ago

    “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.

    Hmm. Is “algorithm” the new hip word for “business strategy”?