Unilever is cutting 1,500 management jobs around the world as the consumer goods giant comes under intense pressure from shareholders to boost growth.
Unilever, which owns household-name brands including Ben & Jerry’s and Dove, said it’s moving to a “simpler” structure divided into five business units — Beauty and Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream — each with their own president. Shareholders have ratcheted up the pressure on Unilever after its stock sank 10% last year. The firm’s shares got hammered last week after the company revealed it had made three failed bids to acquire GlaxoSmithKline’s consumer health care business. Unilever said Thursday that it would not raise its rejected £50 billion offer, and the stock subsequently bounced back.
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