Procter & Gamble cutting 7,000 jobs, plans to exit consumer product categories

Procter & Gamble is planning to cut 7,000 jobs over the next two years and implement a restructuring program. 

The job cuts were announced at a Deutsche Bank Consumer Conference in Paris, alongside news that is plans to exit some product categories and brands in various markets—including possible divestitures. 

Chief financial officer Andre Schulten shared that approximately 6% of the workforce is being affected by the job cuts, according to the company, which stated that it is focused on achieving success in the markets in which it operates. 

In addition, the company announced that it will cease sales of products in various markets, but will provide more details on the specifics in July. 

According to reports, the company had about 108,000 employees as of June 2024. The job cuts would account for roughly 15% of its non-manufacturing workforce.

This story is still developing.