Unilever
has announced that it plans to cut jobs and production plants worldwide, as a result of cost cutting measures following its acquisition of US firm Bestfoods.Go deeper with GlobalData
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The Anglo-Dutch consumer products group said it will cut 8,000 jobs and close at least 30 factories. The job losses are in addition to 25,000 layoffs announced last year as part of the company’s “Path to Growth” strategy to focus on just 400 brands in order to boost sales and profit margins.
Unilever would not comment on where the job cuts would fall, but the re-organisation is expected to hit its global food operation, particularly in Europe, as last year’s acquisition of Bestfoods had left the group with two sales forces across the 18 countries in Europe. A review of North American manufacturing plants will also be completed by Q3.
Unilever said it will achieve savings of €395m (US$356m) this year and €830m by 2003 through the integration of Bestfoods.
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