MADRID Jan 17 Procter & Gamble is
cutting around 150 jobs in Spain and Portugal following the
decision to integrate hygiene company Arbora & Ausonia (A&A)
into its existing operations.
P&G, which makes a host of well-known household products
from prescription drugs to Fairy washing-up liquid, has already
said it would lay off thousands of workers worldwide in a
cost-cutting plan designed to reinvigorate its performance.
P&G acquired 100 percent of A&A, which makes nappies, Tampax
tampons and adult incontinence products, last year after food
company Agrolimen sold its 50 percent stake in the firm.
A succession of companies in Spain are slashing jobs in
response to a painful recession. Airline Iberia plans
to cut up to 4,500 posts, while 12,000 banking jobs are expected
to go this year.
Economic growth is not expected until 2014 in Spain, where
one in four of the workforce is jobless.
P&G said the plan focused on 300 jobs at A&A's main offices
in Barcelona and Lisbon and in its sales networks. The company -
which employs a total of around 2,500 in Spain - said it
expected to offer new jobs for around 150 workers, while the
rest would be dismissed.
A&A's plants in the Spanish towns of Montornes, Mequinenza
and Jijona would carry on operating without significant changes
to their structure, P&G said in a statement.
A&A has sales of more than 500 million euros ($665
million)in Spain and 100 million in Portugal.
P&G reports results on Jan. 25, when it will likely update
on its restructuring efforts.
New York-listed P&G's shares were up 0.5 percent at $69.6 by