This giant American company will eliminate 7,000 jobs, sales of products will stop in many markets

FMCG company Procter & Gamble (P&G) will cut up to 7000 jobs in the next 2 years. This American company, which makes Tide detergent and Pampers diapers, is implementing a restructuring program at a time when tariffs are increasing costs for American companies and consumers are deeply worried about the economy. The company’s Chief Financial Officer (CFO) Andre Schulten said that the job cuts announced at the Deutsche Bank Consumer Conference in Paris represent about 6 percent of the company’s global workforce or about 15 percent of its non-manufacturing positions.

The company will also stop selling its products in some markets

Andre Schulten said, “This restructuring program is an important step towards ensuring our ability to deliver our long-term algorithms in the coming 2 to 3 years. However, it does not eliminate the near-term challenges we are currently facing.” The cuts are part of a comprehensive restructuring program. Procter & Gamble will also stop selling some of its products in some markets. The company said that it will be able to give more information about this in July.

How is the condition of Procter & Gamble shares?

On Thursday, the shares of Procter & Gamble Health Limited closed with a decline. The company’s shares closed at Rs 5576.75 with a loss of Rs 28.95 (0.52%) on the BSE. During yesterday’s trading, the shares of Procter & Gamble Health reached an intraday low of Rs 5535.55 to an intraday high of Rs 5635.30. The company’s shares are close to their 52 week high. The 52 week high of Procter & Gamble Health shares is Rs 5939.80 and the 52 week low is Rs 4730.00. According to BSE data, the current market cap of Procter & Gamble Health Limited is Rs 9,257.06 crore.