P&G announces 2-year restructuring; to cut up to 7,000 roles, record $1.0-1.6B charge

PROCTER & GAMBLE Co

Program includes portfolio choices (brand exits in certain markets), supply chain optimization, and organization design.
Expects to reduce up to 7,000 roles, ~15% of current non-manufacturing workforce.
Non-core restructuring charge of $1.0 to $1.6 billion pre-tax over two years; 25% expected to be non-cash.
Details on specific brand exits will be announced at a later date.
Program aims to drive efficiencies, faster innovation, and cost reduction.

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