Procter & Gamble to Cut 7,000 Jobs
Procter & Gamble said it would cut 7,000 jobs, or roughly 15% of its nonmanufacturing workforce around the world, over the next two years. The maker of Tide detergent, Pampers diapers and Bounty paper towels had about 108,000 total employees as of June last year. P&G executives, speaking at a conference in Paris, also said they plan to trim the company’s product portfolio, exiting some categories and divesting some smaller brands in certain markets.