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Unilever plans thousands of job cuts as investor Peltz builds stake

The job cuts are likely to number in the low thousands, say sources

Unilever headquarters in Rotterdam, Netherlands
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Unilever headquarters in Rotterdam, Netherlands

Thomas Buckley | Bloomberg
Unilever Plc plans to cut thousands of management positions to speed decision-making after activist investor Nelson Peltz built a stake in the consumer-goods giant, people familiar with the matter said. 

The move would eliminate numerous regional and divisional roles that Chief Executive Officer Alan Jope believes have slowed innovation, said the people, who requested anonymity when speaking about private matters. The job cuts are likely to number in the low thousands, they said. The company employs about 150,000 globally.

The shares fell as much as 0.8% in London on Tuesday morning. A Unilever representative declined to comment.

The news, which could be announced

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First Published: Jan 25 2022 | 3:31 PM IST

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