Procter&Gamble slashes 15,000 jobs

NEWS Procter&Gamble has announced 15,000 job cuts over the next five years, as part of a company-wide reorganisation. The company is reorganising itself into seven product-based business units rather than the current set-up of four geographical divisions. It will also establish a Global Business Services Division to provide IT and other business services to the whole group. This will be located in Newcastle, Prague and Brussels. The creation of the division will see 3,900 jobs culled - not all from the IT department, because the division includes finance, accounting and customer logistics, among other services. For more information see http://www.pg.com/about/news/news.htm