Procter & Gamble 86.1 → 79.0 (Δ -7.1): BAND CROSSING Exemplary → Established — 7,000 Layoffs Despite Rising Profits
Procter & Gamble announces plans to layoff 7,000 workers despite increasing profits
Sources (3)
Procter & Gamble announces plans to layoff 7,000 workers despite increasing profits
The company had about 108,000 employees as of June 30, 2024, and said the job cuts would account for roughly 15% of its non-manufacturing workforce.
Procter & Gamble to cut 7,000 jobs as part of broader restructuring
P&G announced 7,000 job cuts representing approximately 15% of its non-manufacturing workforce and roughly 6% of its global headcount, spread over two years. The restructuring was announced at the Deutsche Bank Consumer Conference and attributed to a $600M pre-tax tariff headwind plus $1B–$1.6B in reorganization charges — not to financial distress.
The company was simultaneously reporting increasing profits. The Exemplary band (scores above ~80) requires a standard of behavior materially above Established on all dimensions; this event lowers the Boundaries dimension (B1 workforce sustainability: how the institution treats its workforce under pressure) and the Integrity dimension (I1/I3: consistency of stated values with action under pressure, and internal-vs-external consistency).