Unilever culls 1,500 managers after rocky January

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2 年前

Unilever plans to cut 1,500 management jobs as part of a restructuring.

The British company made the announcement on Tuesday (January 25).

Unilever said the revamp would create five product-focused divisions.

CEO Alan Jope said it would allow the company to become more responsive to consumer and channel trends.

It comes after a rocky start to the year for Unilever which has spooked investors.

The company launched a failed $67 billion bid for GlaxoSmithKline's consumer arm.

The proposal was widely criticised by investors as too costly and a risky distraction from more pressing matters for the business like rising inflation.

Reports have also emerged that an activist investor has built a stake in Unilever.

Nelson Peltz's Trian Partners has not confirmed any such move.

The group has previously invested in rival Procter & Gamble, where it pushed for change.

Unilever is the maker of Dove soap and Marmite and employs around 149,000 worldwide.

It said it did not expect factory workers to be affected by the restructuring.

Its share price is down 13% over the past year and dipped slightly on Tuesday.