Procter & Gamble cuts 7,000 jobs and removes brands
Procter & Gamble will cut 7,000 jobs over the next two years. This is because Tide Detergent Maker is fighting against an uncertain spending environment that has been driven partially by US tariffs.
US stock futures are mixed prior to major monthly job reports.
The Jobs Report for May is scheduled for before Bell. On average, economists expect an unemployment rate of 4.2%, creating 130,000 new jobs.
At 6am ET, futures linked to the Blue Chip Dow added 0.07%, while Broad S&P 500 futures fell 0.11%, while Tech Heavy Nasdaq futures rose 0.14%.
Coroplate News
- Docusign said Billings’ growth was slower than expected in the first quarter, according to FactSet.
- Lululemon’s reduced its annual revenue guidance by citing the “dynamic macroen environment.”
- Broadcom’s quarterly results beat the forecast.
Medora Lee is a money, market and personal finance reporter for USA Today. mjlee@usatoday.com and Subscribe to our free daily money newsletter Personal finance tips and business news every Monday to Friday.
