Unilever to cut 1,500 management jobs in overhaul

It said today it would organise its business into five new divisions - beauty and wellbeing, personal care, home care, nutrition, and ice cream.

"Our new organisational model has been developed over the last year. Moving to five category-focused Business Groups will enable us to be more responsive to consumer and channel trends, with crystal-clear accountability for delivery," CEO Alan Jope said. Unilever, whose shares have fallen about 13% over the past year, last week effectively abandoned plans to buy GlaxoSmithKline's consumer healthcare business for £50 billion.

The announcement also comes days after reports that activist investor Nelson Peltz's Trian Partners had been building a stake in the world's second biggest personal care products maker.

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