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Procter & Gamble Co Set To Cut More Jobs, Repurchase Additional Shares-Reuters


Thursday, 15 Nov 2012 02:26pm EST 

Reuters reported that Procter & Gamble Co (P&G) plans to trim more non-manufacturing jobs through 2016, on top of cutting 10% of that workforce by the end of June. P&G also said it may increase stock repurchases to $6 billion from $4 billion. P&G remains on track to eliminate about 5,700 non-manufacturing jobs by the end of this fiscal year, which will end in June. It now plans to reduce another 2% to 4% of its non-manufacturing jobs each year during fiscal 2014, 2015 and 2016.