P&G Expects To Save $900 Mil. By FY 2004 In $1.9 Bil. Restructuring Effort

Procter & Gamble expects to record annual after-tax cost savings of $900 mil. by fiscal 2004 under the latest phase of the company's Organization 2005 restructuring program, CEO Durk Jager announced June 9. Savings over the next fiscal year are not expected to be significant, but P&G says it will "ramp up" the program through 2004.