P&G cost-cutting
This article was originally published in The Tan Sheet
Executive Summary
Firm enters the third and final phase of its "Strengthening Global Effectiveness" worldwide cost-cutting program. The company will begin implementing cost-cutting recommendations developed by its project steering committee. P&G said it expects to make "staffing adjustments" through early retirement, voluntary separation and relocation. The company said its overall program goal is to "reduce overhead costs as a percent of net sales from 14.5% to 12% over the next three years"