Procter & Gamble said Thursday it will cut 7,000 jobs over the next two years, or about 15% of its non-manufacturing workforce.

In a statement, the consumer products giant said it wants to boost productivity and cut costs as it competes in what the company describes as an “increasingly challenging environment.”

“Finally, there will be additional changes to ensure an even more agile, empowered and accountable organization design — making roles broader, teams smaller, work more fulfilling and more efficient, including leveraging digitization and automation,” the company stated.

The company did not specify which regions or work sites would be directly impacted by the layoffs.

Procter & Gamble, whose brands include Tide detergent, Bounty paper towels and Pampers diapers, has a total global workforce of 108,000 people. 

Along with the workforce reduction, Procter & Gamble said it would also make changes to its portfolio, including possible “brand divestitures.” It did not specify which brands would be impacted.

“More details will be shared in the months ahead,” the company said.

Reached for comment, a spokesperson for Procter & Gamble referred CBS MoneyWatch to the company’s online statement.

Shares of Procter & Gamble we’re up 0.1% in pre-market trading.

In its earnings statement from April, the company reported slumping sales growth, citing a challenging consumer and geopolitical environment. Procter & Gamble made $19.8 billion in net sales in Q3, down 2% from the year prior.

The company’s next earnings call is slated for July 29.