Jan 27, 2022

Unilever to cut 1,500 jobs worldwide Featured

Consumer goods giant Unilever has confirmed it will cut about 1,500 jobs globally as part of an overhaul of its management and structure.

The Marmite-to-Domestos maker said the 5% cut in the workforce would not affect shopfloor jobs in factories.

Unilever is under pressure after a failed £50bn bid for a division of GlaxoSmithKline, and some shareholders have demanded changes.

The firm employs more than 6,000 people in its UK and Ireland operations.

Plans for jobs cuts and a re-organisation have been underway for many months.

The new Unilever will be re-organised around five divisions, including beauty, personal care and ice cream, resulting in several senior executive changes along with cuts further down the management chain.

Unilever, one of the biggest companies on the FTSE 100, is also one of the biggest dividend payers to shareholders and pension funds.

However, when we reached out to 'Unilever Sri Lanka' to inquire whether this decision would also affect company operations in Sri Lanka, a spokesperson said that she would contact us later in this regard but we are yet to receive a response.

(Excerpts : BBC News)