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Unilever headcount reduction

This article was originally published in The Rose Sheet

Executive Summary

European consumer goods giant Unilever says it will cut 20,000 jobs worldwide by 2010 in order to accelerate its recovery program. The majority of the company's restructuring will occur in Europe where structural costs are highest and where regional supply chain management offers the greatest opportunity for savings, Group Chief Executive Patrick Cescau noted during Aug. 2 earnings call. Personal-care sales increased 3.5 percent to $3.92 bil. during the second quarter, firm reports. Introduction of Clear anti-dandruff shampoo to markets in Europe and the Americas is cited as contributing factor, as well as the continued rollout of Dove Pro-Age skin care, deodorants and shampoos designed for women over the age of 50 and extension of firm's Dove Glow lotion line. Unilever notes that Axe body spray has been "enhanced with new innovative packaging and a new global fragrance"; variant Axe Vice is now widely available, the company adds. Overall, Unilever booked roughly $14.42 bil. in Q2 sales, up 5% at constant rates from the same period a year ago...

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