Tuesday, January 25, 2022

Unilever To Cut Thousands Of Managers To Speed Decisionmaking

From FoodDive, January 18 and 2$:

Report: Unilever to lay off thousands of managers 

UPDATE: January 24, 2022: Bloomberg reports that Unilever plans to cut thousands of management positions to speed its decisionmaking, citing unnamed people familiar with the issue.

The report comes after a tumultuous week for Unilever. After affirming in a filing with the U.S. Securities and Exchange Commission that the company's future strategic direction "lies in materially expanding its presence in Health, Beauty, and Hygiene," Unilever walked away from its $68 billion offer for GlaxoSmithKline's consumer healthcare business. Then, reports over the weekend indicated activist investor Nelson Peltz's Trian Fund Management LP had bought a stake in the company. The news both increased the company's stock price and led to the reports of potential layoffs....