Procter & Gamble plans to cut non-manufacturing jobs as it seeks to compete in what the company calls an "increasingly challenging environment."

Procter & Gamble is slashing up to 15% of its non-manufacturing positions over the next two years as part of a broader restructuring effort. The cuts will affect up to 7,000 roles.

Procter & Gamble said Thursday it plans to cut 7,000 jobs, about 15% of its workforce, over two years. The company said it's part of a plan to accelerate growth.