(Image source from: AFP)
After failed GSK Bid, Unilever to cut thousands of Jobs:- Unilever, the leading global consumer giant is all set to cut down thousands of jobs across hundred of countries of the globe. The move comes after the company failed to buy the consumer health division of GlaxoSmithKline (GSK) for 50 billion USD. The consumer goods company that is based in the United Kingdom has 1,49,000 employees across the globe. To improve the operational efficiency as a part of the broader restructuring strategy. Unilever said that the cuts will not impact any factory workers and the move would impact the management teams big time. Hindustan Unilever based in India has 21,000 employees in the country including 12,000 blue-collar workers.
There are 31 factories and 15 offices in India and Unilever is yet to reveal about the job cuts in the Indian offices. Unilever had high plans to offset the sluggishness in the foods division by purchasing the GSK's Healthcare division. The investors have been demanding Unilever to improve the operational efficiency and the Management CEO Alan Jope is under pressure now. Trian Partners, Nelson Peltz's activist hedge fund took over a stake in Unilever. Trian came up with a proposal of operational changes and they mounted pressure to restructure. Peltz has been demanding reforms at the consumer giants. Unilever will come with massive changes in the game plan through the slash of jobs.