Unilever, whose shares have fallen about 13% in the last year, a week ago effectively abandoned intends to buy GlaxoSmithKline’s consumer healthcare business for 50 billion pounds ($67 billion).
Unilever unveiled intentions of Tuesday to chop about 1,500 management jobs within an overhaul targeted at easing shareholders’ concerns following a unsuccessful takeover bid and news that the activist investor had built a stake within the consumer goods giant.
The producer of Dove soapy Magnum frozen treats, which employs about 149,000 people all over the world, stated on Tuesday it might organise its business into five new divisions – beauty and wellbeing, personal care, homecare, diet, and frozen treats.
“Our new organisational model continues to be developed within the this past year … Relocating to five category-focused Business Groups will enable us to become more attentive to consumer and funnel trends, with very-obvious responsibility for delivery,” Chief executive officer Alan Jope stated.
Unilever, whose shares have fallen about 13% in the last year, a week ago effectively abandoned intends to buy GlaxoSmithKline’s consumer healthcare business for 50 billion pounds ($67 billion).
The announcement also comes days after reports that activist investor Nelson Peltz’s Trian Partners have been creating a stake within the world’s second greatest personal maintenance systems maker.