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Reading: 7,500 jobs are are to be eliminated by Marmite manufacturer Unilever.
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Baner Club > Blog > Business > 7,500 jobs are are to be eliminated by Marmite manufacturer Unilever.
Business

7,500 jobs are are to be eliminated by Marmite manufacturer Unilever.

The consumer goods company Unilever, which owns trademarks like Domestos and Marmite, has announced intentions to let off 7,500 employees throughout its international operations.

Last updated: 2024/03/19 at 10:11 AM
Published March 19, 2024
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The UK-based company, which employs some 128,000 people, stated that as technology developed, office roles would account for the majority of the projected losses.
It acknowledged that the three-year productivity push would involve the UK, where it employs 6,000 people.

Unilever declared that after the positions were completely defined, it will start talking with the people who might be impacted.
Separately, the corporation declared that by the following year, it will spin off its ice cream division, which is home to the Magnum, Cornetto, and Ben & Jerry’s brands.

It further stated that other options would be taken into account in order to “maximise returns for shareholders”.

Informing investors that a “simpler and more focused company” would be created as a result of the planned demerger, Unilever targeted mid-single-digit underlying sales growth and modest margin improvement.

According to Unilever, its productivity program should result in overall cost reductions of about €800 million (£984 million) over the course of the following three years. During that time, total restructuring expenses are predicted to be about 1.2% of the company’s turnover.

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