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UNILEVER CUTTING COSTS BY $360 MIL ANNUALLY UNDER RESTRUCTURING

This article was originally published in The Rose Sheet

Executive Summary

UNILEVER CUTTING COSTS BY $360 MIL ANNUALLY UNDER RESTRUCTURING program targeting the company's European and North American businesses. The program, which is expected to be complete within three years, will affect 60 projects in 20 countries. In Europe, almost all of the firm's business categories will be affected, while in North America, the reorganization will focus on detergent operations in the U.S. Under the restructuring program, Unilever expects to eliminate 7,500 jobs, some of which have been announced previously. Unilever noted that "efforts will be made to achieve this job reduction through attrition, retirement and relocation."

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