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Share Name Share Symbol Market Type
Unilever PLC EU:UNA Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.29 3.05% 43.525 43.50 43.71 43.73 42.385 42.42 3,089,637 16:40:00

Unilever to Cut 1,500 Jobs in Structure Reorganization

25/01/2022 9:48am

Dow Jones News


Unilever (EU:UNA)
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By Michael Susin

 

Unilever PLC said Tuesday that it will change its organization structure and that it will be centered in five distinct business groups, resulting in the shedding of around 1,500 jobs and the reduction of management positions.

The London-listed consumer-goods giant said each group will be fully responsible for their strategy, growth and profit.

The businesses will be divided by Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream, it said.

Unilever said the new model will reduce senior management roles around 15% and junior management roles by 5%.

The changes aren't expected to impact factory teams.

"Moving to five category-focused Business Groups will enable us to be more responsive to consumer and channel trends, with crystal-clear accountability for delivery. Growth remains our top priority and these changes will underpin our pursuit of this," Chief Executive Alan Jope said.

Shares at 0913 GMT were up 8.0 pence, or 0.2%, at 3,951.5 pence.

 

Write to Michael Susin at michael.susin@wsj.com

 

(END) Dow Jones Newswires

January 25, 2022 04:33 ET (09:33 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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