The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

Business

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

by admin June 12, 2025
June 12, 2025
Procter & Gamble to cut 7,000 jobs as part of broader restructuring

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
FacebookTwitterGoogle +Pinterest
previous post
U.S. online stores put up ‘out of stock’ signs as Nintendo Switch 2 sales hit record highs
next post
Taiwan ramps up coast guard and military readiness in face of Beijing’s ‘gray zone’ warfare

Related Posts

How Nvidia doubled earnings, lost almost $300 billion...

September 6, 2024

Companies are slashing prices to woo consumers. It’s...

July 28, 2024

Fed Governor Christopher Waller sees central bank ‘getting...

July 18, 2024

FDIC Chair Martin Gruenberg to resign after damning...

May 21, 2024

Ford turns ‘dirty’ business into a profit driver....

August 8, 2024

Home prices soar even higher in February, despite...

May 3, 2024

Digital health companies got pummeled by Wall Street...

December 26, 2024

CVS is under pressure and considering a breakup....

October 5, 2024

Home buyers to be spared broker commissions up...

March 17, 2024

Here’s why business leaders are spending big on...

December 26, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Anne Wojcicki to buy back 23andMe and its data for $305 million

      June 16, 2025
    • What the S&P 500, VIX, and ARKK are Telling Us Now

      June 16, 2025
    • Bearish Divergence Suggests Caution For S&P 500

      June 16, 2025
    • The Best Five Sectors, #23

      June 16, 2025
    • Former Clinton aide Huma Abedin, Alex Soros marry in swank Hamptons wedding packed with Dem heavyweights

      June 16, 2025
    • Dems ‘deliberately obfuscating’ truth about ‘big, beautiful bill’ with this claim: Watchdog

      June 16, 2025

    Categories

    • Business (1,251)
    • Politics (3,734)
    • Stocks (1,434)
    • Uncategorized (45)
    • World News (1,244)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thetraderharbor.com | All Rights Reserved