P&G To Lay Off 1,600 including marketers

Proctor & Gamble is planning a wave of job cuts that could see as many as 1,600 go including marketers, according to reports.

The consumer products giant is also looking for ways to cut its massive $9.3bn advertising budget and put more spend into digital.

“Facing flat market shares and growing investor pressure to cut costs, Procter & Gamble Co.plans to eliminate about 1,600 “overhead” or nonmanufacturing jobs, including some in marketing, and is banking on digital marketing to help contain media spending long-term, executives said on the company’s earnings conference call today.

“The move follows an announcement earlier this month that P&G would outsource to brokerage firms in-store merchandising work covering about 2,700 employees, most of the part-time, and expands a program put in place for some categories two years ago,” according to Business Insider.