Consumer goods giant Unilever cutting 1,500 management jobs

By AP News

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LONDON (AP) — Unilever, which makes Vaseline skin care products and Ben & Jerry’s ice cream, says it's laying off 1,500 staff as part of a company-wide restructuring.

LONDON (AP) — Unilever, which makes Vaseline skin care products and Ben & Jerry’s ice cream, says it's laying off 1,500 staff as part of a company-wide restructuring.

The proposed changes mean that senior management jobs will be cut by about 15% while junior management roles will be reduced by 5%, it said Tuesday. The London-based consumer goods giant employs 149,000 people globally.

The changes, which are subject to consultation, won't affect factory teams, Unilever said in a statement posted on its website .

Under the reorganization, the company will be organized into five distinct groups: beauty and wellbeing, personal care, home care, nutrition, and ice cream.

The shakeup ”will enable us to be more responsive to consumer and channel trends, with crystal-clear accountability for delivery," CEO Alan Jope said.

The revamp comes swiftly after news this month that the company made an unsolicited 50 billion pound ($67 billion) bid to acquire GlaxoSmithKline’s consumer health care unit that was rejected , sending its shares tumbling and sparking a backlash from leading investors.

Unilever has more than 400 consumer brands, including Hellmann’s mayonnaise, Lipton tea, Dove soap and Rexona deodorant.

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Consumer Discretionary

Author: AP News

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Originally published by Associated Press Valuethemarkets.com, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

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