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

#Updates

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.

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 

Topics: Updates, Total Rewards, Compensation & Benefits, Employee Relations

Did you find this story helpful?

Author


QUICK POLL

Is technology the answer to new-age talent acquisition challenges?

On News Stands Now
q_auto,f_auto/v1560247231/mag-june-2019.png

Subscribe now to the All New People Matters in both Print and Digital for 3 years.

In the next three years, 120 million jobs in the world’s 10 largest economies will need retraining or re-skilling. To adapt to this new environment and help shape it, employees need to embrace continuous learning. Amid these changes, HR needs to not think, act, or be like traditional HR; they need to understand their job is now “human transformation”. In this issue, we will focus on what HR leaders and organizations need to consider today to prepare for tomorrow.

Subscribe
And Save 59%

Subscribe now