P&G to cut 1,600 jobs to save costs
04 February 2012
Consumer goods major Procter & Gamble is planning to eliminate about 1,600 of its non-manufacturing jobs, including those in marketing, as part of cost-cutting.
Pressed by a flat market for its products, Procter & Gamble Co is also increasingly looking at digital marketing to help contain long-term media spending.
Procter & Gamble annually spends an average $10 billion on marketing alone.
P&G executives announced the plan at the company's earnings conference.
The company had also, last month, announced plans to outsource in-store merchandising work that would eliminate 2,700 (about 3 per cent) of its 50,000 workforce worldwide.
P&G is adopting a policy of selective hiring and restructuring along with attrition to stay trim in order to get out of a high-cost structure.