Unilever Discussing Layoffs With Workers, Up To 3,200 Cuts in Europe Reported

Unilever (UL) said it is discussing layoffs pinch labor pursuing news that nan diversified user products institution would beryllium slashing a 3rd of its agency unit successful Europe.

In an email consequence to Investopedia connected Friday, a Unilever spokesperson pointed to nan company's March launching of a broad productivity programme intended to make “a leaner and much accountable” organization.

Unilever 'Starting nan Consultation Process With Employees'

The spokesperson noted that complete nan adjacent fewer weeks nan institution would beryllium “starting nan consultation process pinch labor who whitethorn beryllium impacted by nan projected changes.”

The Financial Times was nan first to study that labor were told successful a video telephone Wednesday that by nan extremity of adjacent twelvemonth Unilever would beryllium eliminating 3,000 to 3,200 positions successful Europe. The insubstantial added that a typical for Unilever workers said almost each of nan company’s European offices would beryllium affected, but particularly nan firm centers successful London and Rotterdam, Netherlands. 

The March announcement explained that nan scheme would see a full simplification of "around 7,500 predominantly office-based roles globally." It besides included nan spinoff of Ben & Jerry's and nan remainder of its crystal pick division. The institution has astir 128,000 workers worldwide.

Unilever has been nether unit from activist investor Nelson Peltz to make changes. He reportedly supported nan shakeup.

Unilever's American depositary receipts (ADRs) precocious 1.7% arsenic of noon ET to $57.56, their highest level successful almost 3 years.