PG · 10-K · 2026A · Full report

Focused Portfolio Restructuring

PROCTER & GAMBLE Co · 2026-08-04 · Importance 46 · Surprise 42 · No source text

P&G announced a focused portfolio, supply-chain and productivity plan in June 2025 with expected pretax restructuring costs of approximately $1.5 billion to $2.0 billion over two years. The company incurred more than half of the planned costs in fiscal 2026 and expects the remaining costs in fiscal 2027. The plan includes reducing up to 7,000 non-manufacturing overhead positions by the end of fiscal 2027 across Sector Business Units, Enterprise Markets, Corporate Functions and Global Business Services. Restructuring costs reduced fiscal 2026 gross margin by 60 basis points.

Key facts

• In June 2025 the Company announced a two-year portfolio and productivity plan; in fiscal 2026 the Company incurred incremental restructuring charges of $903 million after tax under the program. source
• The restructuring activities include a plan for a reduction of up to 7,000 non-manufacturing overhead personnel by the end of fiscal 2027. source
• In June 2025, the Company announced a portfolio and productivity plan and expects to incur approximately $1.5 to $2.0 billion in before-tax restructuring costs over a two-year period. source
• The total incremental restructuring charges incurred under the fiscal 2024 limited market portfolio restructuring were $1.2 billion after tax. source
• Approximately 67% of the before tax restructuring charges incurred in fiscal 2026 either have been or will be settled with cash. source
• The Company incurred over half of the costs under this plan in fiscal 2026, with the remainder expected in fiscal 2027. source
• In the fiscal year ended June 30, 2024, the Company started a limited market portfolio restructuring primarily in certain Enterprise Markets including Argentina and Nigeria. source
• In fiscal 2024 the Company completed the limited market portfolio restructuring during the period ended September 30, 2024. source

Impact estimates