2 d. ago Procter & Gamble announces plans to layoff 6% of workforce despite increasing profits

The Ohio-based company says new and increased tariffs pose a risk

Economics

2 d. ago Procter & Gamble to cut up to 7,000 jobs amid economic and tariff pressure

The Tide detergent and Pampers maker plans global restructuring as US consumers pull back and trade costs riseProcter & Gamble will cut up to 7,000 jobs, or approximately 6% of its global workforce, in the next two years as the maker of Tide detergent and Pampers diapers wrestles with tariff-related costs and customers who have grown anxious about the economy. The job cuts, announced at the Deutsche Bank consumer conference in Paris on Thursday, make up about 15% of its current non-manufacturing workforce, said chief financial officer Andre Schulten. “This restructuring program is an important step toward ensuring our ability to deliver our long-term algorithm over the coming two to three years,” Schulten said. “It does not, however, remove the near-term challenges that we currently face.” Procter & Gamble, based in Cincinnati, had approximately 108,000 employees worldwide in June 2024. The cuts are part of a broader restructuring program. Procter & Gamble will also end ...

Economics

4 d. ago Queen Mary of Denmark dons daring ensemble to visit the Global Fashion Summit in Copenhagen

Queen Mary of Denmark cut a stylish figure during a visit to the Global Fashion Summit in Copenhagen this morning. The Queen, 53, put her best fashion foot forward as she arrived at DR Concert Hall.

Politics

3 w. ago Burberry announces thousands of job cuts as fashion house’s profits falter

Nearly a fifth of the brand’s global workforce will be cut

Society

3 w. ago Labour to defend aid cuts, claiming UK’s days as ‘a global charity’ are over

Development minister will tell MPs that Britain will share ‘incredible expertise’ instead of fundingThe days of viewing the UK as “a global charity” are over, the new development minister, Jenny Chapman, will tell MPs, in remarks that are likely to prove a controversial defence of the large-scale aid cuts she is about to oversee.Lady Chapman replaced Anneliese Dodds in February after Dodds refused to back Keir Starmer’s decision to cut the UK aid budget from 0.5% of gross national income (GNI) to 0.3% in 2027. Continue reading...

Politics

4 w. ago Trump health cuts create ‘real danger’ around disease outbreaks, workers warn

Key programs from child-support services to HIV treatment also gutted, leaving global populations vulnerableMass terminations and billions of dollars’ worth of cuts at the Department of Health and Human Services (HHS) have gutted key programs – from child support services to HIV treatment abroad – and created a “real danger” that disease outbreaks will be missed, according to former workers.Workers at the HHS, now led by Robert F Kennedy Jr, and in public health warned in interviews that chaotic, flawed and sweeping reductions would have broad, negative effects across the US and beyond. Continue reading...

Events

last month Japanese tech company Panasonic cuts 4% of its global workforce as profits falter

Panasonic says it will slash its global workforce by 10,000 people, half in Japan and half overseas, to become a more efficient, “lean” company," The Japanese manufacturer said Friday that the job cuts, amounting to about 4% of Panasonic's workers, will include early retirement offers in Japan and closures and consolidation of various operations

Economics

last month ‘Tone deaf’: US tech company responsible for global IT outage to cut jobs and use AI

CrowdStrike CEO announces 5% of workforce to be slashed globally, citing artificial intelligence efficiencies created in the businessThe cybersecurity company that became a household name after causing a massive global IT outage last year has announced it will cut 5% of its workforce in part due to “AI efficiency”.In a note to staff earlier this week, released in stock market filings in the US, CrowdStrike’s chief executive, George Kurtz, announced that 500 positions, or 5% of its workforce, would be cut globally, citing AI efficiencies created in the business. Continue reading...

Politics