Manage equity without headaches. Running a company is a complex skill. Managing your cap table shouldn’t make it harder. Growing companies use Pulley to simplify equity management from fundraise modeling to tender offers. Master running your business with help from Pulley.
Over the next two years, Procter & Gamble, maker of common household brands like Tide and Pampers, will eliminate approximately 15% of its global nonmanufacturing workforce, amounting to roughly 7,000 jobs.
As of last June, P&G had about 108,000 employees.
At a Paris conference, company executives said P&G is axing some product portfolios, including leaving some categories completely—though they didn’t share the particulars, per the Wall Street Journal.
The layoffs are part of a larger organizational restructuring, with the intention of prioritizing smaller teams and more wide-ranging job responsibilities, the company said.
“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 CNN.
P&G also claimed the layoffs weren’t a cost-cutting measure, though you’d be forgiven for assuming they were. Consumer goods companies like P&G face significant challenges from Trump’s global trade war.
Back in April, P&G said it would raise prices on some products as a result of the trade war, and lowered its annual forecast. At the time, CFO Andre Schulten said the company “will have to pull every lever we have in our arsenal to mitigate the impact of tariffs within our cost structure and P&L.”
At the conference on Thursday, Schulten noted that based on current rates, the company estimated the headwind from tariffs to be “around $600 million before tax” “on a full-year basis for fiscal ’26.”