Unilever N V layoffs, on the record
Every job cut, severance charge and restructuring Unilever N V reported in its annual reports, 2017 to 2019, quoted from the filings. Headcount went from 161,000 to 150,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 20-F for 2017 | 161,000 | year end |
| 20-F for 2018 | 155,000 | — |
| 20-F for 2019 | 150,000 | — |
Job cuts, severance and restructuring
Our summaryRestructuring costs were recorded as non-underlying items within operating profit for 2017, tied to the accelerated savings programs.
Word for word“Non-underlying items within operating profit are € 638 million restructuring costs, acquisition and disposal-related costs of € 159 million and one-off costs of € 80 million partly offset by gain on disposal of group companies of € 334 million.” 20-F for 2017
Our summaryRestructuring provisions for redundancy and related people costs were recorded and utilized during 2017.
Word for word“Restructuring provisions primarily include people costs such as redundancy costs and cost of compensation where manufacturing, distribution, service or selling agreements are to be terminated.” 20-F for 2017
Our summaryRestructuring costs were charged within non-underlying items in 2018.
Word for word“Non-underlying items within operating profit comprised a gain on spreads disposal of € 4,331 million, a credit from the early settlement of contingent consideration related to the Blueair acquisition of € 277 million, partially offset by restructuring costs of € 914 million, acquisition and disposal related costs of € 201 million and impairment and one-off items of € 317 million.” 20-F for 2018
Our summaryUnilever spent money on restructuring in 2019, covering supply chain optimisation and organisational change projects to reduce overheads.
Word for word“Within non-underlying costs, during the year the Group spent € 1,159 million (2018: € 914 million) on restructuring; both supply chain optimisation projects to improve gross margin and organisational change projects to reduce overheads.” 20-F for 2019
Our summaryThe company recorded non-underlying costs for additional restructuring in one business division after the 2018 spreads disposal.
Word for word“The non-underlying costs of € 571 million in the year were related to additional restructuring within the business following the spreads disposal in 2018.” 20-F for 2019
Unilever N V has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Unilever N V’s annual reports (20-F for 2019, 20-F for 2018, 20-F for 2017) and the financial data it files with the SEC, as of 2020-03-09. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.