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Procter & Gamble plans cuts

The maker of Tide detergent,Gillette razors and other consumer products said it will cut nonmanufacturing jobs by another 2%-4% on top of the 10%, or 5,700 jobs already being trimmed by the end of the fiscal year in June. Procter & Gamble (PG) management told investors at its annual meeting that it's also increasing its share repurchases program, as it works on its turnaround plan, and focuses on more profitable categories and regions. It reaffirmed Q2 guidance of $1.07-$1.13 per share vs. views for $1.11. Shares fell 0.3% to 66.32.