Procter & Gamble to cut 7,000 jobs globally over next 2 years
New Delhi: FMCG major Procter & Gamble on Thursday announced it would reduce 7,000 jobs, or about 15 per cent of its current non-manufacturing positions, globally over the next two years.
The company said employee separations will be managed with support and respect, and 'in line with our principles and values and local laws'.
'Specific impacts by region or site are not available at this time. Plans will be implemented over the next two fiscal years, allowing us appropriately sequence the delivery of important innovation and operational projects,' said the company in a statement.
It said that P&G's 2024 fiscal year completed six consecutive years of four per cent or better organic sales growth, delivering consistent growth pre-COVID, during the pandemic, across periods of supply chain disruption and inflation challenges and consumption slowdown in key markets.
'We're continuing our strong track record of cash return to shareowners. Over the first three quarters of fiscal year 2025, P&G has returned more than $13 billion dollars to shareowners through dividends and share repurchases,' said Andre Schulten, Chief Financial Officer, and Shailesh Jejurikar, Chief Operating Officer, at the 2025 Deutsche Bank Global Consumer Conference.
They said that looking ahead, consumers face greater uncertainty.
'Competition is fierce. The geopolitical environment is unpredictable. And technology is rapidly transforming nearly every aspect of daily life. At the same time, we can unlock significant growth by better meeting the needs of currently unserved and under-served consumers, expanding into new segments, and growing markets to best-in-class levels,' according to the company.
To achieve this, 'there will be additional changes to ensure an even more agile, empowered and accountable organization design — making roles broader, teams smaller, work more fulfilling and more efficient, including leveraging digitisation and automation,' it noted.
In fiscal 2026, the company will begin a 2-year effort to accelerate P&G's growth and value creation.
'These changes across our portfolio, supply chain and organisation are designed to unlock significant opportunities for stronger delivery of P&G's integrated growth strategy,' it added.
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