Unilever Plc, the British multinational consumer goods company, has unveiled plans to streamline its operations by cutting approximately 7,500 jobs worldwide as part of a strategic overhaul aimed at achieving significant cost savings.
In a statement released on Tuesday, Unilever revealed that the restructuring initiative, projected to save around $869 million (£684 million) over the next three years, will primarily impact office-based roles within the organization.
The decision to implement job cuts comes as Unilever seeks to bolster productivity and efficiency through increased investment in technology.
According to the company, the affected employees will be consulted throughout the process, with the job reductions expected to be completed within the next two years.
Hein Schumacher, Unilever’s Chief Executive Officer, emphasized that the restructuring measures are aligned with the company’s growth action plan, which aims to optimize operations for greater impact.
“Under the growth action plan, we have committed to do fewer things better, and with greater impact,” stated Schumacher. “The changes we are announcing today will help us accelerate that plan.”
Schumacher reaffirmed Unilever’s dedication to conducting the productivity program with sensitivity and respect for the impacted employees, ensuring that their well-being remains a top priority during this transition period.
The announcement by Unilever comes amid a wave of similar restructuring efforts across various industries. In recent months, several prominent companies have announced significant layoffs as part of their cost-saving initiatives.
Microsoft disclosed plans to lay off approximately 1,900 employees from its gaming workforce, while Google revealed intentions to cut “hundreds” of positions within its global advertising and sales teams.
Similarly, Paypal announced a workforce reduction of 2,500 employees, and United Parcel Service (UPS) unveiled plans to cut around 12,000 jobs, citing the need to streamline operations and reduce costs.
