Retail in Asia

In People

Procter & Gamble axes thousands of jobs

Procter & Gamble plans to cut a total of 5,700 nonmanufacturing jobs as part of a new plan to reduce costs by USD10 billion by the end of fiscal 2016, CEO Bob McDonald said on Thursday.

The world’s largest household products company has about 57,000 non-manufacturing employees among its total workforce of about 129,000.

P&G had already said it would cut 1,600 positions in the current fiscal year. On Thursday, it said it would cut another 4,100 jobs during fiscal 2013, which begins in July.