Jan 25, 2022

Marmite maker to cut thousands of jobs worldwide

Last week, Unilever sparked anger from some investors when it dropped a short-lived pursuit of GlaxoSmithKline's healthcare business. Unilever had initially said it wanted a bigger slice of the personal healthcare and hygiene market, to offset slow growth in its foods business. Which owns brands such as Sensodyne toothpaste and Panadol painkillers, said the offer "Fundamentally undervalued" the division and Unilever has since refused to raise its bid. The saga has sparked unease about the firm's management under chief executive Alan Jope, with the head of Unilever's 13th biggest investor labelling the GSK bid as a "Near death experience". In a further twist on Monday, it emerged that the New York-based activist investor Nelson Peltz had taken a position in Unilever.

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