Clorox Exec Says No More Price Hikes, Layoffs Coming as It Lifts Annual Profit

Clorox wipes available for members of the House Committee on Education and Labor, their staff and witnesses, are pictured during a hearing about the federal government's role in protecting workers during the COVID-19 outbreak on Capitol Hill in Washington on May 28, 2020. Chip Somodevilla/Pool via Reuters

Clorox Co. Chief Financial Officer Kevin Jacobsen said on Thursday that the bleach maker has no more price hikes planned through June, and is readying for more layoffs as it looks to recover margins following sky-high inflation.

The Pine-Sol manufacturer on Thursday raised its forecast for annual adjusted profit after reporting a surprise rise in sales, as higher prices helped it offset a slowdown in demand for its cleaning products and disinfectants.