FRANCE: Unilever shake-up, 97 jobs set to go
Unilever France has announced a restructure
Unilever's French unit has announced restructuring that will see 97 jobs put at risk.
The firm said the need for a "reorganisation plan" was due to it experiencing "stagnating sales in 2013 and a depressed market environment".
"Despite the sharp increase in client investments, market shares of Unilever France have heavily eroded in some markets," Unilever said.
"To cope with this situation a strong response is required - Unilever France must be able to invest in a more competitive way in its key brands and more strongly support innovation, including advertising, in order to regain market share," it added.
Bruno Witvoet, chairman of Unilever France, said the "stagnation in our growth value" was "worrying in a context where the price war has exacerbated".
Witvoet said he was aware the announcement was "difficult" because it involved "painful choices". He added it could lead to a "maximum of 97 redundancies" but said Unilever would "endeavour to limit the impact through concrete opportunities for internal redeployment".
- Does Kraft Heinz want to swallow Unilever whole?
- Focus: Nestle CEO plan to balance sales, earnings
- Comment: Meal kits in US - don't believe the hype
- Why Reckitt Benckiser moved for Mead Johnson
- Is Mondelez's margin target hurting sales?
- Kraft Heinz pursuing Unilever in takeover move
- Kraft Heinz pulls Unilever bid
- General Mills issues profit warning
- Kerry Group staff in Ireland suspend strike action
- Nestle plans restructuring as 2016 profit misses