Drastic step at Unilever: 3,200 European jobs are expected to be cut by 2025

By: Trademagazin Date: 2024. 07. 12. 10:19

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Unilever, one of the world’s largest consumer goods companies, has made a radical decision: by the end of 2025, it will cut a third of its European office jobs. The decision is attributed to CEO Hein Schumacher, who took over the management of the company last year, Reuters wrote.

According to the company’s statement, up to 3,200 jobs may be lost in Europe. The layoffs are part of a productivity program announced in March. On Wednesday, Unilever informed its top executives of the planned steps during a corporate phone call.

A Unilever spokesman said: “We will now begin a consultation process with employees who may be affected by the proposed changes over the coming weeks.” According to human resources manager Constantina Tribou, “the net impact expected between now and the end of 2025 in European roles is between 3,000 and 3,200 roles.”

Unilever has taken steps to shake up its business before. In March, it announced the exit of its ice cream business, which includes popular brands such as Magnum and Ben & Jerry’s.

“From a shareholder perspective, there was clearly a need to turn around an underperforming business,” said Jack Martin, portfolio manager at Oberon Investments. Martin added: “the sale of the ice cream business was the first step, but further workforce rationalization steps are expected in the coming months.”