Unilever to cut 20,000 jobs

Unilever is to cut 20,000 of its 179,000 jobs worldwide over the next four years, CEO Patrick Cescau said on Thursday. Where the jobs will go and how the Netherlands will be affected is not yet clear.

Cescau said the company would again be cutting its brand name business, divesting brands which show little growth, but declined to give further details. The US laundry activities are already up for sale. Total divestments are set to raise €2bn, news agency ANP reported.
The company earlier reported second quarter profit of €1.15bn, a 16% rise on 2006. Turnover was up 3% at €10.5bn.
The Anglo-Dutch concern expects full year growth to be on the upper edged of its earlier forecast of 3% to 5%.

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