Alexander Coolidge reports:
Procter & Gamble’s job-cutting has slowed to an ebb, a regulatory filing shows.
The Cincinnati-based maker of Tide detergent and Crest toothpaste issued provided severance packages to 230 employees in quarter ended Sept. 30, compared with 1,800 in the same period a year ago.
P&G has cut 7,000 jobs since announcing a $10 billion restructuring plan in February 2012. Company officials declined to specify the latest round of cuts on Friday, but their quarterly disclosures to regulators detail job cuts for employees getting separation packages.
Most of the job cutting is occurring in North America and Western Europe.
To date, P&G has incurred separation charges related to 6,980 employees with 4,810 workers coming out of non-manufacturing roles, while 2,170 manufacturing employees left the company.
P&G executives signaled Friday more job cuts are on the way as they prepare to consolidate some manufacturing and other facilities in North America and Western Europe. The company has also said it will trim some support operations in emerging markets where the company continues to expand.