UNILEVER SET TO CUT 20K JOBS IN EUROPE
August 3, 2007 -- LONDON - Unilever, the world's third-biggest food and consumer goods company, unveiled plans to slash 20,000 jobs and sell slow-growing businesses in a bid to speed up its recovery and fight surging food costs.
The Anglo-Dutch group, whose 400-plus brands include Dove soap, Knorr soups and Sunsilk shampoo, said the restructuring would affect about a tenth of its 180,000 employees. The cuts would be mainly in Europe and would be implemented over four years.
Unilever also posted a 5.8 percent rise in second-quarter underlying sales, beating analysts' forecasts of 4.2 percent to 5.5 percent, and said it now expects full-year sales growth at the upper end of its 3 percent to 5 percent target band.
Unilever said it's goal is to save 1.5 billion euros ($2.1 billion) a year by 2010.
The Anglo-Dutch group, whose 400-plus brands include Dove soap, Knorr soups and Sunsilk shampoo, said the restructuring would affect about a tenth of its 180,000 employees. The cuts would be mainly in Europe and would be implemented over four years.
Unilever also posted a 5.8 percent rise in second-quarter underlying sales, beating analysts' forecasts of 4.2 percent to 5.5 percent, and said it now expects full-year sales growth at the upper end of its 3 percent to 5 percent target band.
Unilever said it's goal is to save 1.5 billion euros ($2.1 billion) a year by 2010.
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