Procter & Gamble (P&G) announced the layoff of 7,000 employees, constituting about 15% of its non-manufacturing workforce, during a presentation at the Deutsche Bank Global Consumer Conference. These cuts, slated to occur over two years, are described not as cost-cutting measures but as part of a major reorganization guided by technological advancements. CFO Andre Schulten emphasized the importance of meeting the needs of unsatisfied consumers and entering new market segments to stimulate growth. Established 180 years ago, P&G continues to adapt amid changing industry dynamics.
P&G is laying off 7,000 jobs, roughly 15% of its non-manufacturing workforce, as part of a restructuring strategy rather than cost-cutting efforts.
CFO Andre Schulten stated that technology is transforming the company, aiming to improve its offerings and target underserved consumers for growth.
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