P&G Announces Up to $2.5 Billion in Charges for Restructuring and Gillette Impairment

The consumer goods giant warns of potential further charges amid challenging conditions in Argentina and Nigeria, causing a 3.5% drop in shares.

P&G will take up to $2.5 billion in charges over the next two fiscal years due to a restructuring of operations and impairment costs.
The restructuring will primarily affect P&G's markets in Argentina and Nigeria, due to challenging macroeconomic and fiscal conditions.
P&G will record a $1.3 billion pretax impairment charge on its Gillette business this quarter, related to the 2005 acquisition of The Gillette Company.
The company warned that future adverse changes in business or macroeconomic environment may trigger a further impairment charge.
P&G's shares fell 3.5% following the announcement.