On Thursday Procter & Gamble announced its intention to cut approximately 7,000 jobs, representing slightly more than 6% of its global workforce, as part of a restructuring plan to be implemented over the next two years.

The initiative could also include targeted brand divestitures and the exit from certain markets, the company added at a conference hosted by Deutsche Bank.

P&G said the plan is aimed at simplifying operational decision-making and increasing the efficiency of its supply chain.

According to its latest annual report, the group had approximately 108,000 employees.

The planned job cuts, which will not affect production activities, will affect approximately 15% of the workforce outside manufacturing sites.


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