Procter & Gamble (P&G) has said that it could sell up to 100 brands in the next two years and cut jobs to revive sales growth that witnessed dip of 3% a year over the last three years.
This move is part of the company’s strategy to save costs and streamline core operations.
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The maker of Gillette razors and Tide detergent is seeking to double down on about 80 brands that generate 95% of the profits and 90% of sales.
Over recent period, Procter & Gamble was facing challenging environment as consumers continue to spend less than they did before the financial crisis.
Speaking about fourth-quarter results Procter & Gamble chief executive A G Lafley told reporters: "This new streamlined P&G should continue to grow faster and more sustainably, and reliably create more value.
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"Importantly, this will be a much simpler, much less complex company of leading brands that’s easier to manage and operate," Lafley added.
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By GlobalDataP&G told Reuters that company’s family, feminine and baby care business would lose fewer brands than its other four businesses.
This April, Procter & Gamble agreed to sell its pet food brands Iams and Eukanuba to the candy maker Mars for $2.9bn.
