Unlock the Editor’s Digest for free
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Procter & Gamble said it would slash 15 per cent of its office roles over the next two years as part of an effort to cut costs, as weak consumer sentiment and tariff uncertainty weighs on growth.
The maker of household brands including Gillette and Tide revealed the cuts of 7,000 non-manufacturing jobs in a presentation for a Paris-based conference on Thursday, as well as plans to divest a number of categories and brands and restructure the organisation.
The company did not specify where the job cuts would be made.
The US consumer goods group has been battling sluggish demand and heightened caution from shoppers in the wake of Donald Trump’s tariffs. In April the group lowered its sales and profit guidance for the year, as a result of a “more nervous consumer reducing consumption.”
The company expects organic sales growth of 2 per cent in 2025, down from a forecast range of 3 to 5 per cent.
This is a developing story
