Procter & Gamble Cutting 5,700 Positions

This layoff story is not quite as dire as the headline would make it seem. Here is the Business Courier of Cincinnati with the details:

Procter & Gamble Co. plans to eliminate 5,700 nonmanufacturing positions companywide by late 2013 and the company says attrition won't account for all of the cuts, Dayton Daily News reported.

That means an unspecified number of layoffs are coming, but P&G officials have not said when those cuts would occur. The company hasn't given the 60-day notice to the Ohio Department of Job and Family Services, which is required for any such job cuts.

Of P&G's 57,000 nonmanufacturing positions, about 2,000 are in Mason, 350 in West Chester Township, 50 in Lewisburg in Preble County and more than 9,000 at its Cincinnati headquarters and three other campuses in Hamilton County.

So even though all of these cuts will not be layoffs, I can't imagine Procter & Gamble will be hiring any new employees anytime soon.