Unilever, the British multinational of consumer goods, will cut thousands of management positions around the world. The estimate is that at least 1,500 jobs would be cut worldwide.
According to the Daily Mail, the company said Tuesday that it plans to cut senior and junior management positions as part of a global restructuring plan aimed at streamlining operations and allaying the concerns of worried investors.
+ Jobs come back with lower salary
The company would have plans to cut about 15% of senior management positions and 5% of more junior management positions. Factory crews are not to be affected. The company has not yet disclosed where the cuts will be made. Worldwide, the company has around 149,000 employees.
Importantly, the announcement comes days after reports that activist investor Nelson Peltz’s Trian Partners is building a stake in the world’s second-largest maker of personal care products, which owns the Dove and Vaseline brands.
Billionaire Peltz has a reputation for pushing for change at large corporations, with his hedge fund being a major investor since its founding in 2005.
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