Procter and Gamble, a US-based consumer goods maker, will cut 5700 jobs globally by June 2013, as part of a cost-saving initiative.
The job cuts are intended to save around $800 million, and form part of a longer-term plan to cut $10 billion in costs over the next four years. The jobs to be lost will be non-manufacturing roles; the cuts represent about ten per cent of this portion of the Procter and Gamble workforce. It is not yet clear in which geographies the reductions will occur.
The restructuring follows a lack of strong sales growth in Europe and the USA; the firm has also struggled to increase the proportion of its sales in emerging markets, due to competition from rivals.
Procter and Gamble employs about 129,000 people globally.