Food and laundry group Unilever is cutting 1,500 jobs worldwide, mainly in management. It is not yet known whether there will be layoffs in the Netherlands.
Unilever has been under fire from disgruntled shareholders for some time now. The company is doing worse than competitors such as Procter & Gamble and Nestlé. As a result, the share price has lagged far behind that of competitors, much to the dissatisfaction of investors.
One of the accusations is that Unilever is too cumbersome and does not market enough innovative products. The focus is too much on sustainability and too little on profitable growth. Competitors are growing much faster in turnover and profit.
split
The three divisions that the company now has will be split into five new divisions. With the new adjustments, Unilever wants to become more effective. The food division, which includes Knorr, Unox and Magnum ice creams, will be split into an ice cream division and a food division.
The Home Care division, with detergents and cleaning products, will remain as it is. The Personal Care division, which includes Dove and Andrélon, will be divided into a division skin care and shampoo and prestige brands, and a division with, among other things, deodorant and toothpaste.
decisive
By making significant cuts in management, the company must become more effective. Unilever CEO Alan Jope expects that the new organization will enable Unilever to respond more quickly to consumer trends. In addition, the new division directors can more easily be judged on the results of their division. All measures will boost growth, Jope expects.
The Netherlands is now the home base for the Food division. That department is losing the ice branch. That is a success with brands such as Magnum and Ben & Jerry’s. It is not yet clear whether the split will have an unfavorable effect. A spokesperson says that it still needs to be looked at how the reorganization will be implemented.
Unilever employs approximately 150,000 people worldwide.
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Unilever cuts jobs and changes organization | Economy
Source link Unilever cuts jobs and changes organization | Economy
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