News: P&G to cut about 10% of non-manufacturing jobs

Compensation & Benefits

P&G to cut about 10% of non-manufacturing jobs

Procter & Gamble Co plans to cut a total of 5,700 non-manufacturing jobs as part of a new plan to reduce costs by $10 billion by the end of fiscal 2016. The world's largest household products company has about 57,000 non-manufacturing employees among its total workforce of about 129,000. It would cut 1,600 positions in the current fiscal year. The world’s largest household products company expects to save a total of $800 million from the job cuts. In total, P&G aims to trim $10 billion of costs, including $1 billion in marketing costs and $3 billion in overhead costs.

Procter & Gamble Co plans to cut a total of 5,700 non-manufacturing jobs as part of a new plan to reduce costs by $10 billion by the end of fiscal 2016. The world's largest household products company has about 57,000 non-manufacturing employees among its total workforce of about 129,000. It would cut 1,600 positions in the current fiscal year. The world’s largest household products company expects to save a total of $800 million from the job cuts. In total, P&G aims to trim $10 billion of costs, including $1 billion in marketing costs and $3 billion in overhead costs.

P&G is still the largest consumer products maker but it has been hit by some performance issues lately. P&G has outlined a variety of projects it is putting in place, including using less-expensive packaging, eliminating duplicate work, working on innovations with outside companies and virtual technology, and advertising for a variety of brands.

Source: The Economic Times 

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Topics: Compensation & Benefits, Employee Relations, #Updates, #TotalRewards

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