From Yahoo Finance: 2025-06-05 18:44:00

The Procter & Gamble Company (NYSE:PG) plans to cut up to 7,000 jobs— about 6% of its global workforce— due to rising tariff costs and consumer concerns. The cuts will affect around 15% of non-manufacturing staff. CFO Andre Schulten stated the move is part of a larger restructuring plan to address near-term challenges.

In April, Procter & Gamble highlighted tariff pressures on raw materials, packaging, and finished goods from China. The company is exploring new sourcing options and productivity improvements, but price increases on certain products may be necessary to offset the impact. This move comes as US consumers show cautious spending due to inflation concerns.

Procter & Gamble’s restructuring plan also includes pulling some products from select markets. More details on these changes are expected to be announced in July. The company is taking steps to ensure its ability to deliver long-term results over the next two to three years, despite current challenges.



Read more at Yahoo Finance: The Procter & Gamble Company Plans to Reduce its Workforce by up to 7,000 Due to Economic Challenges and Tariff Impacts