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The company launched a programme expected to deliver total cost savings of around €800 million (S$1.17 billion) over the next three years, and the proposed changes would impact around 7,500 roles globally, with total restructuring costs now anticipated to be around 1.2 per cent of its turnover during the period.
CEO Hein Schumacher in October laid out plans to simplify the business after admitting Unilever had underperformed in recent years. His predecessor Alan Jope was criticised for allowing the group’s brand portfolio to grow to about 400, leaving management distracted from its best performers.
After taking the role in July, Mr Schumacher had said that the company would focus on 30 key brands which account for 70 per cent of its sales, work on improving its gross margin and not undertake any major or transformational acquisitions.
Mr Schumacher told Reuters in February that he would not shy away from streamlining Unilever’s 127,000 workforce.
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Unilever to spin off ice cream unit, cut 7,500 jobs
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20-Mar 2024 Wednesday
8:38 AM (39 days ago)
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