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Procter & Gamble Reports Strong Sales For Early 2013, Hits Workforce-Cut Objective Early

February 21, 2013: 12:00 AM EST
Procter & Gamble disclosed sales were strong in January and February 2013 despite the end of the payroll tax holiday and the increase in gas prices. Speaking at the Consumer Analyst Group of New York conference, P&G chief financial officer Jon Moeller also said the company has cut 5,850 non-manufacturing jobs through January, which is part of the company's plan to reduce its non-manufacturing workforce by 2–4 percent by fiscal year 2016. Moeller also said the company plans to reduce the $20 billion it spends annually on manufacturing materials and its $6 billion packaging costs.
Paul Ziobro, "P&G Says Year Off to Good Start, Already Hit Fiscal 2013 Job-Cut Goal", NASDAQ, February 21, 2013, © NASDAQ
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