THE NEWS: Procter & Gamble Co. cut its fourth-quarter outlook on Wednesday as it faces unfavorable foreign exchange rates, weakness in developed markets and a slowdown in China.
THE CONTEXT: The world’s largest consumer products company is seeking to reignite market share growth globally. It has instituted a cost-cutting plan and rethought its international expansion strategy, focusing on its most profitable markets.
WHAT’S NEXT: The company is in the midst of a cost cutting plan aimed at saving $10 billion by fiscal year 2016.
