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Procter & Gamble to Cut 7,000 Jobs in Global Restructuring Amid Tariff Uncertainties
Trump-era tariffs and rising input costs weigh on P&G’s future outlook despite domestic production efforts.
Procter & Gamble Co (NYSE: PG) will slash 7,000 jobs globall y—about 6% of its workforce—over the next two years as part of a major restructuring strategy aimed at tackling rising costs, uncertain consumer demand, and trade tensions, Reuters reported.
The consumer goods giant, known for household products like Tide detergent, Pampers diapers, and Bounty paper towels, had approximately 108,000 employees as of June last year.
Executives revealed the restructuring plans during a conference in Paris on Thursday, stating the initiative would also include trimming the company’s product portfolio by exiting certain categories and divesting smaller brands in select markets. Specifics of these moves were not disclosed.
“This is not a new approach, rather an intentional acceleration of the current strategy...to win in the increasingly challenging environment in which we compete,” P&G executives said, according to Reuters.
The strategic overhaul comes as the company and its peers, including Unilever, brace for persistent inflation and potential consumer spending pullbacks. Global economic uncertainty, exacerbated by President Donald Trump’s aggressive tariff policy, has driven up raw material and packaging costs—some of which P&G imports from China.
P&G, which reported a 2% drop in net sales to $19.78 billion in April, also lowered its fiscal-year sales outlook, citing volatile geopolitical conditions and shaky consumer confidence. The company noted it would continue raising prices where necessary and try all available options to offset the impact of tariffs.
Despite producing a majority of its U.S. products domestically, P&G acknowledged that the Trump administration’s sweeping trade measures are still likely to raise operational costs moving forward.
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