the company of large consumption products that owns brands such as Fairy or Gillette, has launched a two -year restructuring plan that includes the cut of 7,000 jobs in office positions, 15% of the total, as announced in a presentation with investors this Thursday.
The company does not detail in which countries will affect the measure, which is framed in a two -year restructuring plan with which the great consumption giant wants to save costs in three areas: its product range, its supply chain and its internal organization. In the first, the plan includes the departure of some brands of its portfolio, even contemplating the sale of some of them, and a potential abandonment of certain markets.
In the supply chain, Procter & Gamble speaks of an improvement in productive efficiencies, a faster innovation and an improvement in its reliability and resistance.
And in relation to its internal organization, Procter & Gamble says they want to design a “more integrated” company, with a faster decision making. There the 7,000 layoffs announced enter. At the close of its last fiscal year, on June 30, 2024, the company had a workforce of 1,000 people in Spain and Portugal.
The restructuring announced today comes after results, those of its third quarter, which reflected some weakness in the evolution of the company. In them, Procter & Gamble reviewed its benefit forecasts per share for the year: of an initial growth estimate of between 10%and 12%, it has passed to a fork between the & and 8%. In addition, during the past year, the company has recognized an impact of $ 1.3 billion before taxes linked to a deterioration on the Gillette brand.
In the first nine months of its fiscal year, Procter & Gamble accumulated sales of 63,395 million dollars, about 55.5 billion euros to the current change, which represents a slight fall compared to the same period of the previous year. In the third trimester the same was greater, of 2%. However, the multinational did register advances in its operational result (+9.8%) and for its net profit, of 12,359 million dollars (10,820 million euros), 5.2% better.
In his quarterly reports, Procter & Gamble has recognized the impact that changes in tariff policies have on their business, although they have not indicated them as a reason for their lower sales so far in exercise. Its president and CEO, Jon Moeller, pointed out in the last presentation of results that the environment was “challenger”, given the volatility of consumption and the “geopolitical environment.”
