PROCTOR AND GAMBLE CUTS

PROCTOR AND GAMBLE CUTS

Procter & Gamble Co. plans to eliminate more than 4,000 jobs and streamline its massive marketing budget, in an effort to pare back a relatively bloated cost structure that has weighed on the consumer-products giant's profits.
The cuts, which follow 1,600 job losses already planned for the current fiscal year, are aimed at saving $10 billion by 2016. They represent a rare extensive pruning for the company. P&G has long spent heavily to hire, retain and train managers to run its huge portfolio of brands, leaving it with a higher cost base than many rivals.

Comments