P&G freezes full-time hiring
Global – As a short-term solution to lower demands and revenues, the world’s leading manufacturer for household goods Procter & Gamble (P&G) has announced it will freeze hiring plans for full-time staff.
“We have generally met our hiring goals for this fiscal year and therefore we are not currently recruiting and hiring,” Christine Wever, a spokesperson for the company, said. “We always recruit according to the needs of the business, and we will resume active recruiting based on the needs of the business.”
P&G has been experiencing low growth rates in Europe and the US, and growth in Asia has been below expectations. However, Financial Times Deutschland, which broke the news, said this is a short-term measure that can be lifted at any time, but the freeze is expected to last six months.
Currently, P&G has about 129,000 employees globally and are in an on-going US$1 billion (S$1.3b) restructuring process which sees certain eligible employees offered early retirement packages.
P&G’s recruitment process often begins in universities around the world, and the company boasts a culture of promoting from within.
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