Procter & Gamble mass layoffs loom as consumer goods giant plans 7,000 job cuts. Here’s what to know

U.S. consumer goods giant Procter & Gamble has announced that it will lay off 7,000 workers over the company’s next two fiscal years. The staff reductions come at a time when the geopolitical environment is “unpredictable,” the company said, while consumers are facing “greater uncertainty.” Here’s what you need to know about P&G’s job cuts.

7,000 P&G jobs to be lost

On June 5, as two of Procter & Gamble’s executives—Chief Operating Officer Shailesh Jejurikar and Chief Financial Officer Andre Schulten—were speaking at the Deutsche Bank dbAccess Global Consumer Conference in Paris, the company announced a new growth strategy.

That growth strategy consists of three elements: a revamping of its portfolio of goods, its supply chains, and its organizational design.

Unfortunately for a great