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Cincinnati P&G Employees Trimmed In P&G’s Global Downsizing Launch New Businesses

October 8, 2013: 12:00 AM EST
Three dozen former Procter & Gamble employees who lost their jobs in the company’s $10 billion restructuring beginning in 2012 have launched businesses in the Cincinnati area. The P&G restructuring has eliminated more than 6,400 non-manufacturing jobs globally . Employment in the Cincinnati area remains at about 12,000, but more than 1,000 regional executives have left the company in the last two years. The spike in entrepreneurship comes as P&G helps fund a $51 million initiative to make Cincinnati friendlier for new startups. The Cintrifuse initiative invests in venture capital firms from other cities who might consider local companies for new investments. Some, but not all, of the new start-ups have taken advantage of the P&G-backed initiative.
Dan Monk, "P&G restructuring spawned dozens of new companies in the Cincinnati area", WCPO Digital, October 08, 2013, © Scripps Media, Inc
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