Unilever to cut 200,000 jobs

2nd August 2007, Comments 0 comments

2 August 2007, AMSTERDAM (DPA) - Dutch-British food company Unilever announced on Thursday it will cut 20,000 jobs in the next four years.

2 August 2007

AMSTERDAM (DPA) - Dutch-British food company Unilever announced on Thursday it will cut 20,000 jobs in the next four years.

Unilever said the measure, which involves a cutback of 11 percent in personnel, is necessary to increase profit in the coming years.

The Dutch-British food company announced the news during the presentation of its quarterly and half-year results which surpassed analysts' projections.

Net profit in the second quarter of 2007 amounted to EUR 1.15 billion, an increase of 14 percent compared with the same period last year.

The earnings came on sales of EUR 10.5 billion, up 3 percent from the second quarter of 2006 and surpassing analysts' predictions of EUR 10.36 billion sales volume.

Unilever also said it expects overall growth for 2007 to range between 3 and 5 percent. The food company aims to improve its gross profit margin as well.

[Copyright DPA 2007]

Subject: Dutch news

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