Unilever to cut one‑third of European office jobs by 2025
12 July 2024 22:46
Unilever has announced that one in three European office employees will be made redundant. The job cuts are expected to last until the end of 2025.
The international giant Unilever, owner of brands such as Dove, Knorr, Lipton, and AXE, has declared that by the end of 2025, it plans to cut one-third of all office positions in Europe. This measure aims to improve results and stimulate revenue growth, as the company has been struggling with problems for months.
In March 2024, Unilever announced that 7,500 people would be made redundant. This move, which the giant intends to make costing £684 million by the end of this year, will result in a savings of £ 684 million. The company has announced that 3,200 office employees across Europe will be made redundant.
We will begin the consultation process with employees who may be affected by the proposed changes within the next few weeks, said a Unilever spokesperson.
Two years without a raise. The company has frozen the director's salary
At the end of 2023, Unilever announced that the supervisory board had decided to freeze CEO Hein Schumacher's fixed salary for the next two years.
The decision to freeze salaries was made after Schumacher's initial pay package was rejected by shareholders in May, with nearly 60% of votes against. The board proposed a contract for the CEO, which included a base salary of £1.6 million, a 20% increase compared to his predecessor Alan Jope's salary.
Reuters reported that Schumacher, who took up the position of CEO of Unilever in July 2023, will not be eligible for a fixed salary increase in 2024 and 2025. The remuneration committee will review his fixed salary level in 2026.
