P&G reported results for the first quarter of fiscal 2025 on its website.
” Focus markets grew 2%, with North America up 4% and Europe Focus markets up 3%. Enterprise markets were up 1%.
“28 of our top 50 category/country combinations held or grew share for the quarter. Core earnings per share were up 5% versus the prior year. On a currency-neutral basis, core EPS increased 4%.”
Adding that it had been a “good performance in what continues to be a challenging economic and geopolitical environment.”
What’s Behind the Workforce Cuts
The planned layoffs will affect 15% of P&G’s non-manufacturing workforce, representing roughly 6% of its total global workforce. The company emphasized that the changes are necessary to drive “efficiencies, faster innovation, and cost reduction.”
P&G cited multiple global economic challenges as contributing factors, including:
- Rising tariffs between the U.S. and China
- Inflation and higher production costs
- Ongoing global supply chain disruptions
To cope with increasing costs, the company has raised prices on several product lines, though it acknowledged this strategy might lead to reduced consumer demand.
