### Procter & Gamble to Cut 7,000 Jobs and Exit Some Markets Amid Restructuring Plan

In a significant move to address fluctuating consumer demand and rising costs linked to tariff uncertainties, Procter & Gamble announced on Thursday that it will eliminate 7,000 jobs over the next two years. This job cut constitutes approximately 6% of the company's total workforce and about 15% of its non-manufacturing roles.

During a presentation at the Deutsche Bank Consumer Conference in Paris, the executives of the world's largest consumer goods company also disclosed plans to withdraw from some product categories and brands in specific markets. This restructuring strategy aims to enhance P&G's agility and competitiveness in an increasingly challenging business environment.

As of June 30, 2024, Procter & Gamble, known for iconic brands like Pampers and Tide, employed around 108,000 people. The job reductions are part of a broader two-year strategy to combat the expected pressure on consumer spending and the anticipated decline in demand due to rising prices.

Executives asserted that this restructuring is not a new strategy but rather an acceleration of existing plans to better position the company amidst global market challenges. Chief Financial Officer Andre Schulten pointed out that pricing adjustments and cost management are the primary measures being taken to counter the financial impacts of tariffs.

The restructuring is occurring in the context of significant geopolitical uncertainty. Trump's administration's sweeping tariffs on international partners have disrupted global markets and spurred recession concerns in the United States, Procter & Gamble's largest market. The company's supply chain has been notably impacted, as it imports raw materials, packaging components, and some finished products from China.

According to a Reuters analysis, the ongoing trade war has resulted in over $34 billion in lost sales and increased expenses for businesses, a financial strain expected to grow. Earlier this year, the company expressed readiness to implement various strategies, including price adjustments, to mitigate these impacts.

P&G's operations head Shailesh Jejurikar echoed the sentiments of an unpredictable geopolitical environment, emphasizing the increased uncertainty consumers are facing. As the company navigates this complex landscape, the goal remains to sustain resilience and continue thriving in the market.