Rank: 27 (Previous rank: 26)
CEO: Robert A. McDonald
Was this company a 2011 top stock?
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As the cost of materials and fuel continues to rise, many American consumers have kept to cautious spending even as the economy recovers. The continued belt-tightening spells somewhat glum times for consumer goods giant Procter & Gamble. The company announced in February 2012 it would cut 5,700 jobs -- a whopping 10% of its non-manufacturing workforce -- as part of a larger plan to trim $10 billion in expenses by 2016. The company has also raised product prices to counter rising costs, and it announced that it will sell its Pringles business to Kellogg for just under $2.7 billion. Despite the challenges, sales and profits were up for the company at the end of 2011 compared to the previous year.
Industry: Household and Personal Products