As the Pi Network team releases security instructions for the Pi Wallet, Pi coin users have shared their frustration, stating their wallets show no Pi tokens despite following all migration instructions issued by the core team. The users have been complaining about this issue for a while, and have asked the team members to take
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The Metaplanet stock (OTCMKTS: MTPLF) rallied a massive 26.49% on Friday as soon as the Japanese firm announced a massive $5.4 billion fundraise, through an equity financing plan, for additional Bitcoin purchases. The stock ended trading at $11.65 yesterday, and is already up 245% over the past month. Market analysts believe that MTPLF still has
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Shiba Inu (SHIB) is gaining today, June 7, as weekend volatility favors bulls. The ongoing rally may continue after transaction volumes soared to multi-month highs, according to data from on-chain analytics platform Santiment. Meanwhile, a double-bottom pattern hints that a bounce from key support could push Shiba Inu price higher. As bullish signs align, is
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Amid the growing demand for Bitcoin and Ethereum ETFs, UK’s top financial regulator, Financial Conduct Authority (FCA), proposed lifting the ban on crypto ETNs for retail investors. However, Bloomberg’s senior ETF analyst Eric Balchunas stated that it won’t move the “needle” much, considering the lower appetite for crypto ETFs. Bitcoin and Ethereum ETF Could See
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XRP price has been under bearish pressure since the start of June after forming a death cross signal. Despite this bearish crossover, whales are accumulating XRP, with 190 million tokens bought in just one week. Amid this nuanced outlook, how will XRP perform? Will the price fall below $2 or defy the bearish signal? Will
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Procter & Gamble will cut 7,000 jobs, or roughly 15% of its non-manufacturing workforce, as part of a two-year restructuring program.
The layoffs by the consumer goods giant come as President Donald Trump’s tariffs have led a range of companies to hike prices to offset higher costs. The trade tensions have raised concerns about the broader health of the U.S. economy and job market.
P&G CFO Andre Schulten announced the job cuts during a presentation at the Deutsche Bank Consumer Conference on Thursday morning. The company employs 108,000 people worldwide, as of June 30, according to regulatory filings.
P&G faces slowing growth in the U.S., the company’s largest market. In its fiscal third quarter, North American organic sales rose just 1%.
Trump’s tariffs have presented another challenge for P&G, which has said that it plans to raise prices in the next fiscal year, which starts in July. The company expects a 3 cent to 4 cent per share drag on its fiscal fourth-quarter earnings from levies, based on current rates, Schulten said. Looking ahead to fiscal 2026, P&G is projecting a headwind from tariffs of $600 million before taxes.
P&G, which owns Pampers, Tide and Swiffer, is planning a broader effort to reevaluate its portfolio, restructure its supply chain and slim down its corporate organization. Schulten said investors can expect more details, like specific brand and market exits, on the company’s fiscal fourth-quarter earnings call in July.
P&G is projecting that it will incur non-core costs of $1 billion to $1.6 billion before taxes due to the reorganization.
“This restructuring program is an important step toward ensuring our ability to deliver our long-term algorithm over the coming two to three years,” Schulten said. “It does not, however, remove the near-term challenges that we currently face.”
P&G follows other major U.S. employers, including Microsoft and Starbucks, in carrying out significant layoffs this year. As Trump’s tariffs take hold, investors are watching Friday’s nonfarm payrolls report for May for signs of whether the job market has started to slow. While the government reading for April was better than expected, a separate reading this week from ADP showed private sector hiring was weak in May.
Shares of P&G fell more than 1% in morning trading on the news. The stock has fallen 2% so far this year, outstripped by the S&P 500′s gains of more than 1%. P&G has a market cap of $407 billion.