Unilever to cut 1,500 management jobs, restructure into 5 units

By UPI Staff

Unilever CEO Paul Polman speaks during a ceremony at the Global Foods Innovation Centre. File Photo by Robin Van Lonkhuijsen/EPA-EFE

Jan. 25 (UPI) -- Unilever said Tuesday it will cut about 1,500 management roles globally as part of a reorganization aimed at boosting growth.

The company came under pressure from shareholders after its stock sank 10% last year.

The job cuts will affect about 15% of the company's senior managers and 5% of its junior managers.

Unilever, which owns brands like Ben & Jerry's and Dove, will restructure into five smaller business units each with their own president.

The structure will include Beauty and Wellbeing, Personal Care, Home Care, Nutrition and Ice Cream.

The move will allow the company to be more responsive to consumer trends, CEO Alan Jope said.

Unilever will lose Sunny Jain, president of its beauty and personal care division. Instead, Fernando Fernandez will become president of Beauty and Wellbeing.

GlaxoSmithKline turned down a $68 billion offer from Unilever for its consumer goods division earlier this month.