P&G to Cut 7,000 Jobs Amid Restructuring

Procter & Gamble (P&G) announced at the Deutsche Bank Global Consumer Conference that it will cut up to 7,000 non-manufacturing jobs—about 15% of its white-collar workforce—over the next two years, marking its largest workforce reduction in forty years. This restructuring is driven by slowing consumer demand, inflationary pressures, and rising costs from U.S. tariffs on Chinese goods, including a projected $600 million before-tax impact in fiscal 2026. P&G plans to boost productivity, streamline teams, and may divest lower-performing brands and exit certain markets, with detailed updates expected in July. While manufacturing jobs are not affected, the company is focused on operational innovation, automation, and expanding into under-served markets to support future growth. Executives caution that these actions will not resolve immediate challenges, as organic sales growth has slowed, particularly in North America, amid ongoing global economic volatility and geopolitical uncertainties. P&G’s dividend and share buyback plans remain unchanged.