Procter & Gamble (PG) executives know how to do something great.

One is to create a new version of the tidal detergent and Gillette razor, which allows shoppers to usually get back to them at a higher price.

Another is looking for internal cost savings under each rock, especially in times like today, when consumers are backing down and the costs associated with tariffs are rising.

To that end, Procter & Gamble said Thursday it will cut 7,000 jobs over the next two years, accounting for 6% of its total workforce. The consumer product giant has approximately 108,000 employees worldwide.

The restructuring decision aired by company executives at a Deutsche Bank meeting in Paris was a mixed quarterly result in late April. The company missed expectations for first-quarter net sales and organic sales growth.

In the update, P&G, along with other consumer goods leaders, succumbed to some of the economic headwinds related to tariffs. The company cuts its full-year sales and earnings per share (EPS) outlook and cites stressful consumer and cost uncertainty.

P&G CEO Jon Moeller told Yahoo Finance at the time: "We expect the uncertainty to continue (see the video above).

While consumers are not trading cheap products, they are transferring behavior to save money, Moeller said. For example, Procter & Gamble (P&G) sees them reducing their laundry volumes per week to save on detergents.

Since P&G's earnings report, Yahoo financial data shows that analysts have been reducing their EPS estimates for the company over the next two quarters.

Stocks have performed poorly since the April 24 results, with the Dow Jones Industrial Average (^DJI) growing at less than 8.35% and up 13% of the stock. Stocks in Thursday's listing trading have hardly changed since the news.

“Procter’s 3Q results and 4Q guidelines confirm that the slowdown with flat categories in the four weeks ending April 6 is likely to continue into another quarter and has extended to Europe, especially France,” warned Robert Otterstein, an analyst at Evercore ISI.

"China's bottom layer but has not recovered, but in a consumer environment of 80% of its 'focus' markets or sales, Procter & Gamble operates in a tougher consumer environment," Ottenstein added. "In addition, the potential expenses associated with tariffs of $100-15 million increase the risk of pre-release consensus F2026 EPS of $7.27, up 8%, while the reduced F2025 EPS of $6.72-6.82."

Brian Sozzi It is the executive editor of Yahoo Finance. Follow Sozzi on X @briansozzi,,,,, Instagramand LinkedIn. Tips about the story? Send an email to brian.sozzi@yahoofinance.com.