Procter & Gamble (P&G), the global consumer goods giant behind iconic brands like Tide, Pampers, and Old Spice, has announced a significant restructuring plan. The move involves eliminating approximately 7,000 jobs and streamlining its brand portfolio to navigate the current economic uncertainty.

This bold decision, revealed on June 5th, will unfold over the next two fiscal years. The company aims to reduce its non-manufacturing workforce by roughly 15%, impacting around 6% of its total global employee count. This translates to significant changes across the organization.

P&G cited unpredictable geopolitical factors and evolving consumer preferences as key drivers behind the restructuring. The initiative, part of a broader effort to boost productivity and simplify operations, was detailed at the Deutsche Bank Global Consumer Conference in Paris. The cuts are designed to enhance efficiency and allow P&G to better adapt to the changing global landscape. This is a significant response to a marketplace impacted by global instability and shifting consumer purchasing power.

The exit from certain brands and product categories further underscores P&G’s commitment to focusing on its core strengths and maximizing resources in a challenging economic climate. This strategic repositioning is expected to impact a number of markets around the world.