Consumer goods giant Procter & Gamble announced plans to eliminate 7,000 positions as part of a company-wide restructuring effort.

The cuts, announced Thursday, represent approximately 15% of the company's non-factory workforce and will take place over the next two years.

P&G also plans to reduce its product offerings, though the company has not specified which brands or product lines will be affected.

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The maker of household staples like Tide detergent and Charmin toilet paper currently employs about 108,000 people worldwide.

This restructuring comes as many consumer goods companies face increasing pressure to streamline operations amid changing market conditions.

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