Why Procter & Gamble Is Cutting 7,000 Jobs Despite Billions in Sales

Procter & Gamble plans to lay off 7,000 employees over the next two years, slashing about 15% of its non-manufacturing workforce as part of what it calls a push toward “digitization and automation.”

The announcement comes as P&G, maker of household staples like Tide detergent, Bounty paper towels, and Pampers diapers, faces a slowing global economy and what it describes as a "challenging environment." But to the average worker, it signals something else: even the biggest and most...