Table of Contents

• Procter & Gamble

• Tesla

Top Stories Today

Procter & Gamble

Procter & Gamble announced it will reduce approximately 7,000 nonmanufacturing roles, about 15% of that segment, as part of a two-year restructuring effort. The move comes amid rising costs linked to President Trump’s tariffs, which are pressuring margins and prompting planned price increases. The company expects a $600 million tariff-related hit next fiscal year and anticipates $1 billion to $1.6 billion in restructuring charges. P&G is also reviewing its brand portfolio, supply chain, and corporate structure, with further updates expected in its upcoming earnings call. Shares dipped over 1% following the announcement.

Tesla

Tesla’s stock tumbled 14% Thursday, erasing $152 billion in value, after President Trump threatened to revoke government contracts for Elon Musk’s businesses amid a dispute over the spending bill. The clash marks the largest single-day market cap loss for Tesla, dragging it below the $1 trillion mark to $916 billion. The conflict escalated as Musk criticized Trump’s tax bill, especially provisions cutting EV incentives and imposing new fees, which could hurt Tesla’s profits. The company also faces broader challenges, including falling European sales and looming competition in driverless ride-hailing. Meanwhile, Musk’s fallout with Trump signals further political and business turbulence ahead.

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