Unilever Halves The European Job Cuts, Announces Hiring, Read More

Unilever is cutting 1,500 fewer jobs than anticipated, and will hire 1,000 more people, Reuters reported. The new hires will be joining the ice cream unit-works council.

What are the details

The CEO Hein Schumacher has been trying to streamline the business along with the shareholders, which include billionaire activist investors like Nelson Pretz who is also a board member. Schumacher assumed leadership at a time when Unilever was under fire for allowing its product portfolio to expand to around 400, with very little focus on the best performers.

Unilever had said earlier that it was going to axe 7,500 jobs globally, which would save $845 Million. It also announced that it will spin off the ice cream units, which include brands like Magnum and Ben&Jerry's. Unilever's European Works Council (UEWC) strongly criticized the decision, saying the business could be incorporated within Unilever.

UEWC Chairman, Hermann Soggeberg, told Reuters that the company had, however, reached a deal in October with Unilever. The deal will see a reduction of about 1,700 jobs having initially, and anticipated 3,200 job losses in Europe. In addition, 1,000 jobs will be added at Unilever's European ice cream factory.