Procter & Gamble says it will cut 7,000 jobs over the next 2 years

Procter & Gamble said Thursday it will cut 7,000 jobs over the next two years, or about 15% of its non-manufacturing workforce.

In a statement, the consumer products giant said it wants to boost productivity and cut costs as it competes in what the company describes as an “increasingly challenging environment.”

Procter & Gamble, whose brands include Tide detergent, Bounty paper towels and Pampers diapers, has a total global workforce of 108,000 people. 

This is breaking news and will be updated.