Procter & Gamble said Thursday it will cut 7,000 jobs over the next two years, or about 15% of its non-manufacturing workforce.
In a statement, the consumer products giant said it wants to boost productivity and cut costs as it competes in what the company describes as an “increasingly challenging environment.”
“Finally, there will be additional changes to ensure an even more agile, empowered and accountable organization design — making roles broader, teams smaller, work more fulfilling and more efficient, including leveraging digitization and automation,” the company stated.
Procter & Gamble, whose brands include Tide detergent, Bounty paper towels and Pampers diapers, has a total global workforce of 108,000 people.
Reached for comment, a spokesperson for Procter & Gamble referred CBS MoneyWatch to the company’s online statement.
Shares of Procter & Gamble we’re up 0.1% in pre-market trading.
Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports.
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