### Procter & Gamble Announces Workforce Reduction Amid Economic Uncertainty

Procter & Gamble revealed on Thursday that it plans to reduce its workforce by 7,000 jobs globally over the next two years, accounting for about 6 percent of its total employment. This significant move comes as the consumer products giant aims to streamline its operations amidst challenges posed by geopolitical tensions and tariff-related uncertainties.

The Cincinnati-based company, well-known for its products such as Tide laundry detergent and Pampers diapers, discussed these changes at a recent conference in Paris. The job cuts, which will primarily target nonmanufacturing roles, are part of a broader strategy to eliminate 15 percent of such positions. Executives also announced intentions to divest certain brands to further simplify their portfolio, although specific brands were not disclosed.

Chief Financial Officer Andre Schulten explained that the company sees potential in enhancing broader roles and reducing team sizes. As of June 2024, Procter & Gamble reported employing approximately 108,000 people worldwide.

The announcement follows a period of declining demand, exacerbated by President Trump's tariff measures on major trading partners announced in April. This economic backdrop has led the company to adjust its sales and profit expectations for 2025. Schulten acknowledged additional complications from ongoing geopolitical conflicts in the Middle East and Ukraine.

Procter & Gamble’s situation is not isolated, as other major corporations like General Motors and Target have similarly revised their earnings forecasts and enacted layoffs. Coinciding with Procter & Gamble’s announcement, Citigroup declared a reduction of about 3,500 technology jobs in China as part of a broader consolidation effort.

Despite a slight dip in Procter & Gamble's share price over the past year, the company saw a modest 0.25 percent increase in premarket trading following the news of its reorganization plans.