The Globe and Mail reports in its Friday edition that Procter & Gamble is planning to cut 7,000 jobs, or about 6 per cent of its work force, over the next two years as part of a new restructuring plan to counter uneven consumer demand and higher costs owing to tariff uncertainty. A Reuters dispatch to The Globe says the world's largest consumer goods company also plans to exit some product categories and brands in certain markets, executives said at a banking conference in Paris, adding the program could likely include some divestitures without giving detail. The Pampers and Tide maker's two-year restructuring plan comes when consumer spending is expected to remain pressured this year, and global consumer goods makers including P&G and Unilever brace for a further hit to demand from even higher prices. U.S. President Donald Trump's sweeping tariffs on trading partners have roiled global markets and led to fears of a recession in the United States, the biggest market for P&G. In April, P&G said it would raise prices on some products and that it was prepared to pull every lever in its arsenal to mitigate the impact of tariffs. P&G's Canadian-traded shares closed Thursday at $27.54, down 86 cents.