London ● Wed, January 26 2022
Unilever unveiled plans on Tuesday to cut about 1,500 management jobs in a restructuring aimed at easing shareholders’ concerns after a failed takeover bid and reports an activist investor had built a stake in the consumer goods giant.
The maker of Dove soap and Magnum ice cream, which employs about 149,000 people worldwide, said on Tuesday the revamp would create five product-focused divisions – beauty and wellbeing, personal care, home care, nutrition and ice cream.
The move, which Unilever said had been in the works over the past year, echoes the reshaping by arch-rival Procter & Gamble (P&G) three years ago when it created six similar business units, in its biggest reorganization in two decades.
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