The P&G engagement with razor giant Gillette will see as many as 6,000 jobs slashed.

The face of brands including Pampers, Crest, Tide and Head and Shoulders hopes to ramp up sales in developing markets like China and Eastern Europe following the merger with Gillette.

The price paid for this new union, however, is a reduction in headcount.

Best estimates show that four per cent of the workforce of a combined 140,000 will go.

AG Lafley, chairman, president and chief executive of Procter & Gamble, said: “This combination of two best-in-class consumer products companies, at a time when they are both operating from a position of strength, is a unique opportunity.

“Gillette and P&G have similar cultures and complementary core strengths in branding, innovation, scale and go-to-market capabilities, making it a terrific fit.”

The merger is one of the biggest in corporate history and will push competitor Unilever into second place.