P&G to take $2.5bn shave from Gillette write down, operations rejig

P&G bought Gillette for $57bn in 2005 and gets about 8% of its total sales from the business

P&G, which bought Gillette for $57bn in 2005, gets about 8% of its total sales from the shaving and grooming business.

Grocery giant Procter & Gamble said it would post up to $2.5bn (€2.3bn) in charges over two financial years as it writes down the value of its Gillette business and restructures certain markets.

The consumer goods giant said it would take a $1.3bn non-cash impairment charge before tax in the current quarter on its Gillette business.