P&G's Costly Consequences: $2.5 Billion Charges for Gillette and Restructuring
Procter & Gamble is taking a $1.3 billion charge on its Gillette business, which it acquired for $54 billion in 2005. The shaving giant has struggled in recent years due to competition from lower-priced upstarts like Dollar Shave Club and Harry's. P&G estimated the value of its grooming business to be around $14.1 billion as of June 2023.