Latest news with #Procter
Yahoo
6 days ago
- Business
- Yahoo
Why Tide maker Procter & Gamble is slashing 7,000 jobs
Procter & Gamble (PG) executives know how to do a few things very well. One is to create new versions of Tide detergent and Gillette razors that keep shoppers coming back to try them, often at a higher price. Another is to look under every rock to find internal cost savings — especially in times like today, when consumers are pulling back and tariff-related costs are on the rise. To that end, P&G said Thursday it would slash 7,000 jobs, or about 6% of its total workforce, over the next two years. The consumer products giant has about 108,000 employees worldwide. The restructuring decision, aired by company execs at a Deutsche Bank conference in Paris, comes on the heels of mixed quarterly results in late April. The company missed expectations on net sales and organic sales growth for the first quarter. Looking ahead, P&G joined other consumer goods leaders in buckling a bit under tariff-related economic headwinds. The company cut its full-year sales and EPS outlooks, citing pressured consumers and cost uncertainty. "We expect uncertainty to continue," P&G CEO Jon Moeller told Yahoo Finance at the time (watch above). While consumers aren't trading down to cheaper products, they are shifting behaviors to save money, Moeller said. For example, P&G is seeing them do fewer laundry loads each week as a means to conserve detergent. Since P&G's earnings report, Yahoo Finance data shows analysts have been reducing their EPS estimates on the company for the next two quarters. Shares have dropped 1.1% since the results on April 24, under-performing the Dow Jones Industrial Average's (^DJI) 8.35 gain and the S&P 500's (^GSPC) 13% advance. The stock was little changed in pre-market trading on Thursday after the news. "Procter's 3Q results and 4Q guide-down confirmed that the slowdown in the U.S. ─ where category volumes ran flat in the four weeks ending April 6, ─ will likely persist for another couple of quarters and that the slowdown has already extended into Europe, particularly France," warned EvercoreISI analyst Robert Ottenstein in a note. "A China bottoming but not recovering yet leaves Procter operating under tougher consumer environments in all its 'focus' markets or 80% of sales. Moreover, $1.0-1.5 billion in potential tariffs-related costs add risk to pre-release consensus F2026 EPS of $7.27, or 8% growth against a reduced F2025 EPS of $6.72-6.82," Ottenstein added. Brian Sozzi is Yahoo Finance's Executive Editor. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
BBC News
19-04-2025
- Sport
- BBC News
Procter leads Northants response against Derbys
Rothesay County Championship Division Two, County Ground, Derby (day two)Derbyshire 307: Guest 91, Madsen 89; Broad 4-60, Procter 3-61, Guthrie 3-74Northants 236-3: Procter 97*, Vasconcelos 82Northants (3 pts) trail Derbyshire (2 pts) by 71 runsMatch scorecard Northamptonshire skipper Luke Procter led from the front as his team fought back on the second day of their County Championship Division Two match against Derbyshire at made an unbeaten 97 and shared an opening stand of 143 with Ricardo Vasconcelos, who passed 50 for the first time this season, scoring 82 off 117 balls, as the visitors closed on 236-3 in reply to Derbyshire's also finished with figures of 3-61 with Justin Broad claiming 4-60 as Derbyshire lost their last six wickets for 80 runs, including Brooke Guest, who top scored with bowlers had something to prove after a below par performance on the first day, and they delivered a much improved display in terms of control and had played a counter-attacking innings which had disturbed the bowler's lines, and he resumed with a crisp straight drive down the ground against Liam Guthrie to move into the Guthrie had the last word when Guest went to drive a widish ball and dragged it into his stumps to give the visitors the early breakthrough they Broad replaced Guthrie, he found some inswing to trap Anuj Dal in front, and then beat Martin Andersson's loose drive to reduce Derbyshire to Chappell edged a forcing stroke behind to give Broad his third victim of the morning, and Derbyshire were in danger of falling below 300 when Luis Reece was caught down the legside aiming to pull Tickner secured a second bonus point when he pulled Dom Leech to the ropes, before Procter took the new ball and had Jack Morley caught was a good session for the visitors, who dominated the afternoon with Vasconcelos and Procter batting through to was close to being lbw to Tickner early in his innings but after a sketchy start, a glorious on drive off the New Zealand paceman showed his confidence and touch was well as he and Procter batted, it was not a good session for Derbyshire's bowlers as they failed to maintain the consistent lines to build off drive off Andersson brought Vasconcelos his 10th four and took him to 50 before he whipped Reece to the mid-wicket boundary to bring up the 100 stand which came from 135 completed his half-century after tea, and when Wayne Madsen could not cling on to a fierce chance at second slip off Tickner when Vasconcelos was on 76, it threatened to be certainly looked that way when the opener pulled the next delivery for four, but when Tickner tempted him with a widish ball, he slashed it to gully where Andersson made no knew he had thrown away the chance of a hundred and had to drag himself from the crease but he and Procter had given their team a good platform to build was building another partnership with George Bartlett until Chappell got enough lift off a length to have the latter caught behind, and James Sales never got going, playing across a full ball from were much better in an extended final session but Procter and Rob Keogh reduced the arrears to 71 before bad light ended Reporters' Network supported by Rothesay
Yahoo
03-03-2025
- Entertainment
- Yahoo
The Tennessean Student of the Week celebrates dancers. Vote in this week's poll
Get ready to lace up those dancing shoes. It's time for another installment of The Tennessean's Student of the Week, and this time, we're all about the dance. From tap to hip-hop, and everything in between, we asked Middle Tennessee schools to tell us all about their most talented dancers and why they should be chosen as our Student of the Week. After a weeklong nomination period, The Tennessean received six responses from guidance counselors, teachers and principals. Polls are open now and will close at noon on March 6, so be sure to cast your votes and help your favorite dancer land on top. And don't forget, this is a special week. After this poll closes, we will be taking a short recess for Spring Break and plan to return with more Student of the Week polls on March 31. But, before all that, let's learn more about each student from the person who nominated them: The sophomore is a member of the award-winning Wavettes dance team and enrolled in the dance program at Gallatin High School. Oden and her team recently competed at the National Dance Alliance High School Dance Nationals in Orlando, Florida, where they placed 5th in Hip Hop and 8th in Game Day. Additionally, she is an assistant choreographer for the dance program's spring concert. The senior has danced her whole life at her local studio and throughout her matriculation in high school. During her sophomore year, Procter suffered a tear in her shoulder that caused surgery and 6 weeks off. She didn't let that stop her, though. She came back stronger than ever! The junior has been on the dance team since she was freshman. Goggin is such a devoted team member and incredibly talented dancer. She not only performs on the dance team but dances on a competition team with American Academy of Dance in Hendersonville. The senior has been training to dance since the age of three at Dance Force. As soon as she was eligible, she joined both her middle school and high school dance teams. Johnson has been a committed varsity member of the RHS dance team for four years and now serves as captain. Throughout all four years of high school, she has balanced the demands of competitive dance while maintaining her focus on education and leadership. Her commitment, discipline and passion exemplify the qualities of an outstanding student-athlete. The senior has danced for roughly 11 years with nine of those being competitive. She has been a part of the Mount Juliet High School Dance Team (MJDT) for the past 3 years and served as a captain this past season. This past season, her hip-hop routine once again placed 7th in the nation. She was also awarded the DTU Pro award this past season at DTU Camp, a three-day dance summer camp through the competitive circuit Dance Team Union. After high school, she plans to attend a four-year university and major in sustainability studies. The senior has been a member of the dance team for 4 years and is currently a captain. She has overcome a lot in her 4 years on the MCHS dance team and has battled her way back from injury. She was recently named an All American at Universal Dance Association dance camp. This year she also helped lead her team to placing 6th place in nationals in the hip-hop division. This article originally appeared on Nashville Tennessean: The Tennessean Student of the Week celebrates dancers. Vote now
Yahoo
24-02-2025
- Entertainment
- Yahoo
Procter & Gamble Works Up New Lather for Soap Operas With ‘Beyond the Gates'
If one of the newest products from consumer-goods giant Procter & Gamble reminds you of something the company made in the 1960s, 70s or 80s, well, there's good reason. When 'Beyond the Gates' debuts Monday afternoon on CBS, it will mark a return by the company, one of the world's biggest makers of household staples such as laundry detergent, deodorant and floor cleaner, to the world of soap operas. In a different era, Procter was a producer of some of the genre's longest-running examples, including 'Guiding Light' and 'As the World Turns,' and they were as important to Procter as Mr. Clean, Pampers and Tide. P&G is teaming up with a joint venture between CBS and the NAACP to produce the show. More from Variety 'Tracker' Renewed at CBS Along With 'Ghosts,' 'NCIS,' 'Fire Country' and More Paramount Global Battles Trump Politics and Investor Suits. Is the Sale to Skydance in Peril? Paramount and YouTube TV Reach Multiyear Distribution Deal for CBS and Other Networks, Agreement Includes Option to Bundle Paramount+ 'Gates' centers on members of the fictional Dupree family, who live in an affluent community outside the nation's capital. Its launch marks the arrival of the first soap opera to feature a predominantly Black cast since the short-lived 'Generations' appeared on NBC in 1989, and the first new traditional soap introduced on broadcast TV since 'Passions' debuted on the same network a decade later. Such twists are what Sheila Ducksworth, an executive producer of 'Gates' and president of the venture between CBS Studios and the NAACP, hopes will spur a new generation of viewers to make soaps a regular habit, something more people no longer do. She recalls getting into the programs when she was ten years old, then keeping up with them each weekday at college at a Yale University hang-out, the Durfee Sweet Shoppe. In most soaps, she says, characters from diverse backgrounds number only a small handful among the cast and by and large are on the periphery.' Now, she says, 'Gates' will feature a cast that is 'more reflective of the society we all live in' and is grounded in an actual group of tony, gated enclaves that lie outside Washington D.C. Still, the soap opera continues to fall out of favor on TV. In 2022, NBC moved the long running 'Days of Our Lives' to its Peacock streaming service. ABC is down to just one soap opera, the venerable 'General Hospital.' CBS still airs 'The Young and the Restless' and 'The Bold and the Beautiful,' but many standards of the genre, including P&G's 'Guiding Light' were cast off many years ago. TV networks have found viewers are less centered around a daytime TV schedule, and as a result, aren't forming the soap habit that their grandparents or parents did at a younger age. Besides, media executives know they can replace pricey daytime scripted shows, syndicated series and soaps with lower-cost news programming. 'Only the special soaps are going to survive,' said Leslie Moonves, the former head of CBS in 2009, when the network canceled 'As the World Turns' after more than half a century on air. 'It's certainly the end of the client-owned soap', he told The New York Times. 'All good things come to an end, whether it's after 72 years or 54 years or 10 years. It's a different time and a different business.' Nearly two decades later, has the business changed again? That's what the 'Gates' builders hope. Soaps never went away, argues George Cheeks, the co-CEO of CBS parent Paramount Global. Viewers still like high drama on Bravo's 'Real Housewives' series and in many other programs. A new daytime soap, he says, will 'appeal to the core CBS audience,' but 'can find a younger, unduplicated' fan base in streaming. Research shows 'how much these soap operas over index with Black women,' he says. 'That's an underserved audience. There's a business opportunity here.' Indeed, CBS canceled its afternoon roundtable program, 'The Talk,' to make room on its schedule for 'Gates' — a reversal of current TV trends. Procter & Gamble sees an opportunity to tout products to a group of viewers who are not always represented in TV programs. Plans are already in the works to have 'Gates' characters use Tide detergent and Febreze air freshener during several episodes, says Kimberly Doebereiner, an executive producer of 'Gates' and head of P&G Studios, and more product cameos could be on the way. 'We all want this to succeed as an outstanding piece of drama and content. That's our first priority,' she says., And if that goal is met, the company can weave its products into examples of everyday use on the show. 'We have families with kids. They have to do laundry. There's one time when one of the women is throwing a party and Febreze is going to help set the stage with the scent.' Rather than forcing products into the plots, she says, 'It's actually just authentic use of our products where they matter, showing performance in the daily lives of our consumers.' P&G gets 'first look' to determine if it wants to weave its products into the show, says Cheeks. 'Gates' opens as more advertisers are trying to be more a part of the content that brings viewers to their favorite screen, rather than the old-school commercials that interrupt it. That may mean teaming up with the Lifetime cable network to produce a 15-minute vignette that has all the hallmarks of one of the outlet's sudsy romance movies, yet is meant to promote visits to the Chili's restaurant chain and trying its signature margaritas. Or it may result in a move to create ads that play off the content of specific programs, as some markets have done in recent months with shows such as 'Yellowstone' or 'Saturday Night Live.' That may have driven P&G to get back into the content game. After the cancellation of its CBS soap operas, says Doebereiner, the company asked if it really needed to be in the business of producing TV programs. These days, 'our focus is not 'Are we a producer of TV?' Our focus is how we partner to be part of cultural conversations.' P&G may have some things to say about casting and storylines for 'Gates,' she says, but it's more likely to focus on finding authentic methods of pitching its products to viewers without getting in the way of the entertainment. Having actual, well-known goods like hair-care products and floor cleaner on sets can only help the production, says Duckworth: 'It was important that we feel not just current, but that we also were really real as well.' Judging whether Procter & Gamble's help makes for good — as well as economically feasible — TV may well be one of 'Beyond the Gates' most intriguing storylines. Best of Variety New Movies Out Now in Theaters: What to See This Week Grammy Predictions, From Beyoncé to Kendrick Lamar: Who Will Win? Who Should Win? What's Coming to Netflix in February 2025
