Cost cutting to go hand in hand with environmental concerns
Boston, MA 06/02/2014 (wallstreetpr) – Procter & Gamble Company (NYSE:PG) will be looking to reduce $10 billion in costs in the next two years.
In order to do this, the company will be reducing its workforce by three thousand by 2016. It is also in the process of selling the pet food department as well as some other departments.
PG is also trying to ensure that it addresses a number of environmental issues. This has become the main priority for the American corporate sector. The reason behind the same is that companies can save a huge amount of money by adopting such measures. Companies like PG which depend on consumer feedback require such measures to portray them in a positive light. In fact reports show that more and more consumers take such factors into consideration when they make a purchase.
The company ranks high when it comes to greenhouse gas production
As per a report published by Bloomberg, The Procter & Gamble Company (NYSE:PG) ranks number two when it comes to greenhouse production. The company has around 130 production units spread over forty countries. They make items related to the beauty sector to the baby items sector.
The Procter & Gamble Company (NYSE:PG) has reduced its emission by 10.7% over the past six years. In the same period its energy consumption is down by 4.7%. The company has already decided to use only clean suppliers for its supply of palm oil. They have also partnered with Wal-Mart Stores, Inc. (NYSE:WMT) in an effort to boost recycling across the United States.
The company has also decided to reduce water content by 25% in detergents over the next four years. This will lead to a saving of forty five million gallons each year. The company’s CEO said that while they are committed to environmental measures, it will be balanced with profitability.
