Unilever Plc, a British multinational consumer goods company, has announced plans to cut around 7,500 jobs globally as part of an overhaul aimed at saving around $869 million (£684 million) over the next three years.
In a statement on Tuesday, Unilever said the jobs affected by the restructuring would be largely office-based.
It said the move came as it intends to invest in technology to boost productivity and save money.
Unilever said staff will be consulted about the job cuts, which will happen within the next two years.
Speaking on the changes, Hein Schumacher, chief executive officer of Unilever, said it would help speed up the plan.
“Under the growth action plan, we have committed to do fewer things better, and with greater impact,” Schumacher said.
“The changes we are announcing today will help us accelerate that plan.”
He said the firm is committed to carrying out its productivity programme in consultation with employee representatives, and with respect and care for those who are impacted.
Meanwhile, several companies have also announced massive layoffs, signalling the continuation of a trend that commenced last year over profitability concerns.
On January 25, Microsoft said it would sack around 1,900 of its total gaming workforce, while Google plans to cut “hundreds” of employees across its global advertising and sales teams.
The development came after it laid off “hundreds” more employees on January 10, across several divisions, including its engineering and hardware teams, as well as employees developing its voice-operated virtual assistant, Google Assistant.
Paypal on January 30, said 2,500 of its total workforce will be fired within the year to save costs, while United Parcel Service (UPS) announced plans to cut about 12,000 jobs to save $1 billion in costs.
More Stories
CBN: Nigeria spent $3.5bn to service foreign debt in nine months
Power sector needs $10bn investment for 24-hour electricity, says Adelabu
PETROAN faults Dangote on PMS price, says cost of production now less than N600/litre