### Procter & Gamble to Cut 7,000 Jobs amid Economic Challenges

Procter & Gamble (P&G), the renowned manufacturer of household staples like Tide detergent and Pampers diapers, is set to slash up to 7,000 jobs, equating to roughly 6% of its global workforce. The workforce reduction, which will unfold over the next two years, comes as the company grapples with increased tariff-related costs and economic uncertainty among consumers.

The announcement was made by Chief Financial Officer Andre Schulten during the Deutsche Bank Consumer Conference in Paris. The job cuts represent about 15% of P&G's current non-manufacturing workforce. Schulten emphasized that this restructuring program is crucial for the company to maintain its long-term financial goals over the next two to three years, though he acknowledged it would not immediately resolve current economic difficulties.

As of June 2024, Procter & Gamble, headquartered in Cincinnati, employed approximately 108,000 people worldwide. Besides workforce reductions, the company will also cease sales of certain products in specific markets as part of its broader restructuring strategy. Detailed information regarding these changes is expected in July.

This significant restructuring effort underscores the challenges P&G faces as it adapts to shifting economic landscapes and consumer behavior. Despite these near-term hurdles, the company remains focused on its long-term objectives.