Procter & Gamble (P&G) has unveiled plans to reduce its workforce by approximately 7,000 non-manufacturing roles over the next two years, representing about 15% of its non-manufacturing staff. This move is part of a comprehensive restructuring initiative aimed at enhancing operational efficiency and adapting to current economic challenges.
The company cites several factors influencing this decision, including rising input costs, tariff-related expenses, and shifting consumer behaviors. P&G anticipates incurring pre-tax charges between $1 billion and $1.6 billion during this period, with a quarter being non-cash charges.
To mitigate these challenges, P&G is considering measures such as streamlining its product portfolio, optimizing supply chain operations, and potentially divesting certain brands. These steps are designed to position the company for sustainable growth in a complex global market.
At Workplay, we understand the complexities businesses face during such transitions. Our platform offers tools and resources to support organizations in navigating workforce changes, ensuring resilience and sustained growth.