As part of a new restructuring strategy to combat unpredictable consumer demand and greater costs owing to tariff uncertainties, Procter Gamble said on Thursday that it will eliminate 7,000 positions, or around 6% of its overall staff, over the next two years.
Executives at a Deutsche Bank Consumer Conference in Paris stated that the largest consumer products firm in the world also intends to discontinue some product categories and brands in specific areas. They added that the program may involve some divestitures, although they did not provide specifics.
The two-year reorganisation plan from the manufacturer of Pampers comes as global consumer goods companies like PG and Unilever prepare for a further hit to demand from even higher costs, and consumer spending is predicted to continue under pressure this year.
To succeed in the increasingly difficult environment in which we compete, executives stated that this is not a novel method but rather a deliberate acceleration of the present plan. A recession in the United States, PG’s largest market, is feared as a result of President Donald Trump’s broad tariffs on trade partners, which have agitated international markets. The business imports some completed goods, packaging materials, and raw ingredients from China into the United States.
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