Unilever Cuts Jobs, Facilities

Unilever (London) will slash 20,000 jobs, an 11% reduction in its workforce. Meanwhile, management teams will be shrunken and country offices reduced by around 75%. The personnel reductions will take place primarily in Europe, with the remainder coming from the United States as the company mulls the closure of its laundry division. In addition, the company will shutter about 50 factories. The moves come as Unilever attempts to raise its operating margins above 15% in the the next three years.

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