Procter & Gamble, the maker of Tide detergent and Pampers diapers, says it will cut up to 7,000 jobs over the next two years.

The cuts are part of a restructuring program that also includes ending sales in certain markets. The news comes at a time when tariffs are raising costs for American companies and consumers are growing anxious about the economy.

Procter & Gamble job cuts

What they're saying:

"This restructuring program is an important step toward ensuring our ability to deliver our long-term algorithm over the coming two to three years," Chief Financial Officer Andre Schulten said. "It does not, however, remove the near-term challenges that we currently face."

By the numbers:

The job cuts make up approximately 6% of the company's global workforce, or about 15% of its nonmanu

See Full Page