The Procter & Gamble Company Plans to Reduce its Workforce by up to 7,000 Due to Economic Challenges and Tariff Impacts

The Procter & Gamble Company (NYSE:PG) plans to cut up to 7,000 jobs— about 6% of its global workforce— over the next two years as it faces rising tariff costs and growing consumer concern over the economy.

The cuts, announced at a Deutsche Bank consumer conference in Paris, will affect around 15% of the company’s non-manufacturing staff, according to CFO Andre Schulten. He made the following comment:

“This restructuring program is an important step toward ensuring our ability to deliver our long-term algorithm over the coming two to three years. It does not, however, remove the near-term challenges that we currently face.”

This move is part of a larger restructuring plan, which also includes pulling some products from select markets. More information on those changes is expected in July.

Like many companies, The Procter & Gamble Company (NYSE:PG) is seeing cautious spending from US consumers due to inflation.

In April, the company highlighted that the biggest tariff pressures were tied to raw materials, packaging, and some finished goods from China. While it is exploring new sourcing options and productivity improvements, it also signaled that price increases on certain products might be necessary.

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