The US cleaning product and food group Procter and Gamble today announced plans to cut 9,600 more jobs in a concerted effort to trim costs and revitalize long-term growth.
The company which employs 600 people at its manufacturing operation in Nenagh, Co Tipperary, did not say if its Irish workforce would be cut.
The company said the latest cuts, which amount to nine per cent of its workforce, would be in addition to the 7,800 that were part of a 1999 restructuring drive. When both initiatives are completed 17,400 positions will have been eliminated.
Procter and Gamble will also close plants and consolidate production in an overall restructuring it said would cost about $1.4 billion after taxes, with the bulk of the costs borne in the 2001-2002 fiscal year.
The measures could yield the company $600 to $700 million in after-tax savings a year by fiscal year 2003-2004.