Unilever to slash a third of European workforce

Unilever, a major player in the consumer goods industry, has announced plans to cut a third of its office-based roles in Europe by the end of 2025. This decision comes after the company revealed in March that it would be reducing costs, impacting around 7,500 jobs globally. Specifically, about 3,200 jobs in Europe will be affected. Unilever acknowledged the anxiety these changes are causing among its employees but emphasized that the cuts are necessary to revive growth under the leadership of Hein Schumacher, who became the CEO last year. The exact locations of the job cuts have not been disclosed yet. Unilever has significant offices in London and Rotterdam. The company had dual headquarters in these cities for many years before deciding in 2020 to unify its legal structure in the UK. At that time, Unilever assured that staffing would not be affected. However, Hermann Soggeberg, head of Unilever’s European Works Council, noted that these measures represent the largest job cuts in decades. A Unilever spokesperson mentioned that the company launched a comprehensive productivity program in March to drive focus and growth through a leaner and more accountable organization. Part of this restructuring includes the decision to separate its ice cream business, which features brands like Wall's, Ben & Jerry's, and Magnum. Unilever believes that this shake-up will enable it to 'do fewer things better. ' In the UK, the company produces ice cream in north-east Gloucestershire, Marmite and Bovril in Burton-on-Trent, and Pot Noodles in Newport, employing a total of 6,000 staff. From a shareholder’s perspective, a turnaround was necessary for the underperforming business, according to Jack Martin, a portfolio manager at Oberon Investments. Unilever is one of the largest consumer goods companies globally, with a portfolio that includes Dove beauty products, Persil washing powder, and Lynx body spray. Recently, the company faced scrutiny from the UK's Environment Agency after soapy water was improperly diverted from its soap powder factory into an already-polluted river, highlighting some of the challenges the company needs to address.