Unilever Plans European Office Job Cuts

Unilever (NYSE: UL) is planning to cut a third of its European office jobs by 2025, amounting to around 3,200 positions, as part of a broader restructuring initiative to enhance growth and focus on core operations. The move follows pressure from activist investors like Nelson Peltz to improve strategy, sustainability, and shareholder value. The company aims to streamline its workforce and concentrate on 30 key brands, with shares showing a 1% increase in premarket trading. CEO Hein Schumacher is driving the transformation to simplify the business and regain investor confidence after a period of underperformance, emphasizing the need to optimize Unilever's portfolio and reduce costs while maintaining support for affected employees.