The job cuts, announced at the Deutsche Bank Consumer Conference in Paris on Thursday, make up about 15% of its current non-manufacturing workforce, chief financial officer, Andre Schulten, said.
“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.”
Procter & Gamble, based in Cincinnati, had approximately 108,000 employees worldwide in June 2024.
The cuts are part of a broader restructuring program.
Procter & Gamble will also end sales of some of its products in certain markets. Procter & Gamble said it will provide more details about that in July.
In April, Procter & Gamble noted during a conference call that the biggest US tariff impacts were coming from raw and packaging materials and some finished product sourced from China. The company said that it would be looking at sourcing options and productivity improvements to mitigate the tariff impact, but that it may also have to raise prices on some products.
That same month, the Consumer Brands Association, which represents big food companies like Coca-Cola and General Mills as well as consumer product makers like Procter & Gamble, warned that although its businesses make most of their goods in the US, they now face tariffs on critical ingredients — like wood pulp for toilet paper or cinnamon — that must be imported because of domestic scarcity.
