P&G to cut jobs despite increased outlook
The Company on Thursday said it will increase its share repurchase outlook from $4 billion to $6 billion up from its previous forecast of $4 billion.
In a release, the company said that if cash results remain ahead of plan, as they were in its fiscal...
Procter & Gamble's corporate headquarters / The Enquirer/Joseph Fuqua II
The Procter & Gamble Company on Thursday said it will increase its share repurchase outlook from $4 billion to $6 billion – up from its previous forecast of $4 billion.
In a release, the company said that “if cash results remain ahead of plan, as they were in its fiscal first quarter, there is an upside potential of $6 billion in share repurchase for the fiscal year.”
The company also announced it plans to reduce non-manufacturing jobs by 2-4 percent through fiscal years 2014 to 2016.
The company already planning to eliminate 5,700 non-manufacturing jobs by the end of fiscal 2013.