Procter & Gamble (P&G) is reducing its workforce by 7,000 employees, or about 6%, over the next two years as part of a restructuring plan aimed at mitigating the impact of growing uncertainty due to US tariffs. The move comes as consumer goods giants P&G and Unilever prepare for muted demand in 2025.
P&G’s CEO acknowledged that the company is accelerating its strategy to compete in a challenging environment, citing President Donald Trump’s sweeping tariffs on trading partners. The tariffs have resulted in a significant loss of sales and higher costs for companies worldwide.
The trade war has cost US businesses over $34 billion, according to a Reuters analysis. In response, P&G announced plans to raise prices on some products and take other measures to minimize the impact of tariffs.
P&G’s CEO, Andre Schulten, described the geopolitical environment as “unpredictable,” with consumers facing increased uncertainty. The company had approximately 108,000 employees as of June 2024, with the job cuts accounting for about 15% of its non-manufacturing workforce.
Source: https://edition.cnn.com/2025/06/05/business/procter-gamble-job-cuts-tariffs-intl