- THE MAGAZINE
Cincinnati, Ohio -- (AP) -- The Procter & Gamble Co. plans to cut about 9,600 jobs worldwide, or about 9% of its work force, as it tries to become more competitive and accelerate its sales and earnings growth.
About 40% of the job cuts announced Thursday will be in the United States. Combined with remaining reductions announced earlier in P&G's reorganization, the cuts total 17,400. The company currently employs about 110,000 people. One-third of the job cuts will come from manufacturing, and those reductions are expected to include plant closings and consolidations. Company officials declined to elaborate.
The announcement followed reports a day earlier that Procter was considering eliminating up to 20% of its work force in response to the economic downturn.