P&G plans to cut more jobs, repurchase more shares

Published November 15, 2012

| Reuters

CINCINNATI – Procter & Gamble Co now plans to cut another 2 percent to 4 percent of its non-manufacturing staff, on top of a continuing 10 percent reduction, and said it may increase stock repurchases to $6 billion from $4 billion.

The world's largest maker of household products laid out its latest plans on Thursday as it works on improving its structure and cutting costs.

Ahead of a bi-annual meeting with analysts, being held this year at P&G's Cincinnati headquarters, the company also maintained its forecasts for sales and earnings for the current quarter and the fiscal year.

(Reporting by Jessica Wohl in Cincinnati; editing by John Wallace)

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