Unilever, the consumer goods giant, announced plans to cut a third of its office roles in Europe by the end of 2025. The move is part of a larger cost-saving program aimed at boosting the struggling company’s growth.
The company informed senior executives of the plan on Wednesday, revealing that approximately 3,200 jobs will be eliminated across Europe. This is part of a broader layoff initiative that will see the company cut a total of 7,500 roles worldwide.
The cuts are driven by the company’s new CEO, Hein Schumacher, who took the helm last year. Schumacher has stated his intention to simplify the business and regain investor confidence. Unilever has faced criticism for underperforming in recent years, leading to this drastic cost-cutting measure.
The job cuts highlight the ongoing trend of cost-cutting measures in businesses as they navigate economic uncertainties and adapt to changing consumer behaviors. Unilever’s success in its restructuring efforts will be key to its future growth and performance.