Procter & Gamble to Lay Off 7,000 in Restructuring Effort
1. Procter & Gamble plans to lay off 7,000 employees, about 15% of workforce. 2. Company undergoes a two-year restructuring, changing its portfolio and supply chain. 3. Expected earnings impact from tariffs is 3 to 4 cents per share this quarter. 4. Previous quarterly report showed better profits, but lower-than-expected sales. 5. Company shares are down 1% since the start of the year.