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Procter & Gamble plans more job cuts

Associated Press Modified: November 15, 2012 at 5:15 pm •  Published: November 15, 2012
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The pressure is on since activist investor William Ackman, known for agitating for change in companies he has a stake in, has disclosed that he has a 1 percent stake in the Procter & Gamble.

P&G affirmed its forecast for the fiscal second quarter and fiscal year. It predicts second-quarter adjusted core earnings of $1.07 to $1.13 per share with revenue ranging from down 1 percent to up 1 percent, implying revenue $21.88 billion to $22.32 billion. Analysts expect net income of $1.11 on revenue of $21.81 billion.

For the full year P&G kept its guidance for adjusted core earnings of $3.80 to $4 on flat revenue growth to up 1 percent. That implies $83.68 billion to $84.52 billion. Analysts expect net income of $3.96 per share on revenue of $84.20 billion.

Shares fell 21 cents Thursday to close at $66.32.