Major company to cut 3,200 jobs in Europe

Unilever’s Plan to Cut Jobs in Europe

Unilever is planning to cut one-third of all office roles in Europe by the end of 2025 as part of a CEO-led initiative to boost the growth of the consumer goods giant.

On Wednesday, the multinational company informed senior executives that up to 3,200 jobs will be slashed across the continent by the end of 2025, as reported in a company call.

“In the coming weeks, we will start the consultation process with employees who may be affected by the proposed changes,” a Unilever spokesperson said in an email, according to Financial Times.

What Does the Plan Encompass and Why So Many Layoffs?

Unilever’s plan aims at layoffs on a scale not seen for decades in the company.
The job cuts in Europe are part of a productivity program announced in March, which projected up to 7,500 job redundancies.

“The expected net impact on roles in Europe by the end of 2025 is between 3,000 and 3,200 positions,” stated Constantina Tribou, head of human resources.

“These measures represent the largest job cuts at Unilever in decades,” noted Hermann Soggeberg, the head of Unilever’s European Works Council, in a letter to staff seen by Reuters.
He mentioned that calling the cuts a Productivity Program was incorrect, as people who had worked and been productive were now facing livelihood losses.

Unilever has already taken steps to shake up its business as part of its plans to reignite growth.
In March, it announced the spin-off of its ice cream business, home to popular brands like Magnum and Ben & Jerry’s.

From a shareholder’s perspective, a turnaround was clearly needed in a company with underperforming results, stated Jack Martin, a portfolio manager at Oberon Investments.

“The sale of the ice cream business was the first step, but the measures to streamline the workforce in the coming months are proof of the additional effort required to deliver value to shareholders,” he added.