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Unilever Plans Thousands of Job Cuts as Peltz Builds Stake

  • CEO Jope faces rising pressure to boost share performance
  • Move follows failed bids for Glaxo’s healthcare business
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Activist Fund Trian Builds Stake in Unilever
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Unilever Plc plans to cut thousands of management positions to speed decision-making after activist investor Nelson Peltz built a stake in the consumer-goods giant, people familiar with the matter said. 

The move would eliminate numerous regional and divisional roles that Chief Executive Officer Alan Jope believes have slowed innovation, said the people, who requested anonymity when speaking about private matters. The job cuts are likely to number in the low thousands, they said. The company employs about 150,000 globally.