• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Investing

Procter & Gamble to cut 7,000 jobs as part of broader restructuring

by June 6, 2025
written by June 6, 2025

Procter & Gamble will cut 7,000 jobs, or roughly 15% of its non-manufacturing workforce, as part of a two-year restructuring program.

The layoffs by the consumer goods giant come as President Donald Trump’s tariffs have led a range of companies to hike prices to offset higher costs. The trade tensions have raised concerns about the broader health of the U.S. economy and job market.

P&G CFO Andre Schulten announced the job cuts during a presentation at the Deutsche Bank Consumer Conference on Thursday morning. The company employs 108,000 people worldwide, as of June 30, according to regulatory filings.

P&G faces slowing growth in the U.S., the company’s largest market. In its fiscal third quarter, North American organic sales rose just 1%.

Trump’s tariffs have presented another challenge for P&G, which has said that it plans to raise prices in the next fiscal year, which starts in July. The company expects a 3 cent to 4 cent per share drag on its fiscal fourth-quarter earnings from levies, based on current rates, Schulten said. Looking ahead to fiscal 2026, P&G is projecting a headwind from tariffs of $600 million before taxes.

P&G, which owns Pampers, Tide and Swiffer, is planning a broader effort to reevaluate its portfolio, restructure its supply chain and slim down its corporate organization. Schulten said investors can expect more details, like specific brand and market exits, on the company’s fiscal fourth-quarter earnings call in July.

P&G is projecting that it will incur non-core costs of $1 billion to $1.6 billion before taxes due to the reorganization.

“This restructuring program is an important step toward ensuring our ability to deliver our long-term algorithm over the coming two to three years,” Schulten said. “It does not, however, remove the near-term challenges that we currently face.”

P&G follows other major U.S. employers, including Microsoft and Starbucks, in carrying out significant layoffs this year. As Trump’s tariffs take hold, investors are watching Friday’s nonfarm payrolls report for May for signs of whether the job market has started to slow. While the government reading for April was better than expected, a separate reading this week from ADP showed private sector hiring was weak in May.

Shares of P&G fell more than 1% in morning trading on the news. The stock has fallen 2% so far this year, outstripped by the S&P 500′s gains of more than 1%. P&G has a market cap of $407 billion.

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Shein and Temu see U.S. demand plunge as loophole for cheap goods closes
next post
Trump implies government could cut contracts and subsidies to Musk’s companies

You may also like

Tesla agrees to first deal to build China’s...

June 21, 2025

Oil prices rise more than 1% as Israel...

June 20, 2025

Apple looking to make ‘premium’-priced folding iPhones starting...

June 20, 2025

Nike pushes back Skims launch with Kim Kardashian...

June 19, 2025

DOJ seizes record $225 million in crypto tied...

June 19, 2025

Amazon expects to cut corporate jobs as it...

June 18, 2025

Streaming overtakes cable and broadcast as the most-watched...

June 18, 2025

Kraft Heinz to remove artificial dyes from U.S....

June 17, 2025

Trump-branded wireless service launches — with a gold...

June 17, 2025

Meta is finally bringing ads to WhatsApp

June 17, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Tesla agrees to first deal to build China’s largest grid-scale battery power plant

      June 21, 2025
    • Oil prices rise more than 1% as Israel vows to intensify attacks on Iran

      June 20, 2025
    • Apple looking to make ‘premium’-priced folding iPhones starting next year, analyst says

      June 20, 2025
    • Nike pushes back Skims launch with Kim Kardashian due to production delays

      June 19, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (526)
    • Stock (6,426)

    Latest News

    • Tesla agrees to first deal to build China’s largest grid-scale battery power plant
    • Oil prices rise more than 1% as Israel vows to intensify attacks on Iran

    Popular News

    • Goldman Sachs adds Norwegian Cruise Line, Uber to US conviction list
    • Kioxia’s shares surge in debut, valuing Japan chipmaker at $5.8 billion

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy