Procter & Gamble is cutting 15% of its workforce

Procter & Gamble announced that it will cut 7,000 jobs amid an uncertain spending environment due to tariffs that have shaken consumer spending.

The company also plans to exit some product categories and leave certain brands in specific markets as part of a broader two-year restructuring plan.

Although the world’s largest consumer goods company stated that the job cuts are not a cost-reduction method, the company had announced earlier this year that it was exploring ways to reduce costs after its sales declined and it had to lower its annual forecast.