Procter & Gamble is about to shrink.
The world's largest consumer products maker said it will jettison more than half its brands around the globe over the next year or two, leaving it with about 70 to 80 of its top performers when the nips and tucks are complete. The maker of CoverGirl, Pampers and Tide declined to specify what exactly it will shed but noted they're smaller brands that collectively account for less than 10 percent of sales.
CEO A.G. Lafley said Procter & Gamble should have made the move long ago.