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Unilever PLC plans to slash thousands of management positions across its operations, a source familiar with the matter said on Monday.
The job cuts will be in the “low thousands“, the person said.
The development comes on the heels of reports that activist investor Nelson Peltz’s hedge fund, Trian Partners, is building an unspecified stake in the consumer goods giant whose strategy is under scrutiny after a short-lived pursuit of GSK’s consumer healthcare arm.
Bloomberg first reported the news on Unilever’s plans to cut jobs. The move would eliminate numerous regional and divisional roles that Chief Executive Officer Alan Jope is said to believe have slowed innovation.
The company employs about 150,000 globally.
