presentation on unilever

Business Strategies that set FMCG giant “Unilever” a class apart

The first name that comes to mind as soon as somebody talks about the FMCG industry is Unilever. A century ago no one would have predicted that a company founded by a margarine owner and a soapmaker would years later become one of the most established and famous companies and one of the most desirable employers in the world .

As of 2020, it has a turnover of around €50.724 billion and has approximately 155,000 employees worldwide. Apart from financially doing well, it has also progressed towards achieving sustainable development goals. Unilever is one of the few companies which have achieved gender equality in the workplace (as of 2020).

Transformation of a merged operation to a renowned brand

Unilever was established in September 1929 by merger of Dutch-based company Margarine Unie and British soapmaker Lever Brothers. The name Unilever came up by blending the names of both the companies. It has emerged as one of the largest consumer brands owning around 400 brands. It is primarily known for its diversification and has three main divisions. 

1) Food and Refreshments

2) Home Care

3) Beauty and Personal Care

It was only in the late 20th century; the organization increasingly diversified from making oils and fats products to expanding its operations worldwide. It has made numerous corporate acquisitions with brands like Dove, Omo, Knorr, Lipton, Lux, Magnum, Rexona/Degree, Sunsilk, etc. 

We're proud to say our brands are known for being widely used around the world. Check out some of our leading products: https://t.co/xRZwMakuFM pic.twitter.com/d91MmjipCw — Unilever Global Careers (@CareersUnilever) January 5, 2018

Unilever is famously known for its U-Shaped logo. It was only in 2004 that the current logo was established, which was designed by Wolff Olins. The current logo is made up of 25 icons which represents an aspect of the company. 

View this post on Instagram A post shared by Unilever Global #StaySafe (@unilever)

Unilever’s Marketing Strategy: A brand with a purpose

One of the best business strategies used by Unilever is that it integrates its global strategies with the local community to attract consumers who are attracted to the products that are famous worldwide; however, it can hold on to its local essence.

For example, Hindustan Unilever, a subsidiary of Unilever in India, has established itself as one of the most loved brands by the Indian audience. For decades it has been one of the top five most valuable companies in India . The reason for the success of HUL in the Indian market is its association with middle-class values and old-fashioned essence. Although it has been changing with time simultaneously, HUL’s philosophy has remained rooted in the purpose and values of the consumers.

While promoting these brands, Unilever also focuses on achieving the upper hand in communication to the audience without compromising these brands’ delivery.

For instance, the Surf Excel tagline has been ‘dirt is good and has portrayed it in various forms. At the same time, the case of Brooke Bond Red Label depicted how a social conversation over a cup of tea (or perhaps just a sip) could bring a change in the social views of the tea lover. Therefore, due to such creative methods, Unilever’s brands, despite being one of the oldests, have continued to gain consumers’ confidence.

Unilever: A company that keeps sustainability at the heart of its business strategy

As of 2020, Unilever celebrated 10 years of the Sustainable Living Plan . The company had committed to providing sustainable living for 8 billion people worldwide and decided to address social inequality and climate changes. The company did not neglect these goals despite the occurrence of COVID-19. 

Unilever worked on the longer-term implications of global trends for its business. Thus, the adoption of the Sustainable Living Plan has been a game-changer. It understood the importance of Sustainability and accepted it as a cultural transformation journey by integrating the USLP targets into its core working practices and procedures.

At the corporate level, Unilever has been committed to gender equality for a long time. As of 2020, 50% of managerial positions are held by women as compared 2010 to 38%. The organization had set a goal in 2010 to have a 50/50 split in the employment and added a women-leadership program . It collected, reviewed, and analyzed the data for the past 10-years and used it to battle gender stereotypes every month.

Unilever focuses on eliminating inequality at the global level by removing stereotypes in its advertising and showing how fathers or husbands could contribute to society 

Even during COVID-19 for 3-months, it did not stop working on its sustainable development plan and gender equality. It stated that organizations measuring inequality now would be better positioned to improve business and equality post-Covid. It made progress slowly over the years and was one of the few companies to achieve a balance. In 2020 Unilever won the ‘Catalyst Award’ for achieving gender equality 

As of 2021…..Unilever is using sustainability as an opportunity…

Unilever has been honored as being the most environmentally responsible companies and topped the list back in 2017.

In its latest goals, Unilever further added that it would reduce food waste from the factory to the shelf by half by 2025, which is five years earlier than what the organization has committed as part of the 10x20x30 (i.e 200 companies pledge to reduce wastage by 2030) initiative. It further added to increase the plant-based sales to around 1 billion euros ($1.2 billion) by the next 5-7years to reduce greenhouse gas emissions from traditional animal-based agriculture.

Unilever : Building a customer-centric business strategy

The organization has a competitive advantage due to its continuously enhancing values amongst consumers globally. Furthermore, it possesses a diversified portfolio of the top brands, thus achieving a unique position and innovating with the consumers’ preferences globally.

It has also taken up initiatives in its Research and Development, which are heavily funded to align with changing consumer needs. It has its R&D operations in China, India, UK, the US, and the Netherlands. Due to its manufacturing facilities in around 270 locations globally, Unilever has been able to cut costs and achieve expertise in its distribution channels.

Unilever has been able to establish itself as the most significant FMCG due to its direct-to-consumer business model, i.e. by extensively understanding the needs of the consumers. Unilever also started its marketing campaign by forming a relationship between the consumer and the brand.

The most crucial element in the business strategy of Unilever is the R&D in its product development, while being on par with its marketing activities. Unilever understood changing needs of the consumers and implemented them in their development. In 2017 alone, Unilever invested more than 900 million euros in its R&D. 

It’s not easy to be a market leader for a century and that too by winning the hearts of its consumers. With its dedicated sustainable yet customer-centric business strategy, Unilever would continue to do so.

-AMAZONPOLLY-ONLYWORDS-START-

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Kashish M is an Undergraduate student from the Middle East. Apart from listening songs and learning new languages and exploring different culture over time she developed interests in writing and gained interest in exploring different parts of the accounting/finance world.

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Presentation on Unilever - PowerPoint PPT Presentation

Presentation on Unilever

Presentation on unilever overview of the company the company s history the company s purpose brands, financial report the company 150 million times a day, someone ... – powerpoint ppt presentation.

• Overview of the company
• The companys history
• The companys purpose
• Brands, Financial Report
• 150 million times a day, someone somewhere chooses a Unilever product
• Two key strengths strong roots in local markets, world class business expertise applied internationally to serve consumers everywhere
• Focusing on performance and productivity
• Unilever was created in 1930 Lever Brothers Margarine Unie
• In the thirties Unilever introduced improved technology to the business
• Parent companies Unilever NV, Unilever PLC
• Corporate centres London, Rotterdam
• To meet the everyday needs of people everywhere
• To improve the quality of life with their products
• To serve consumers in a unique and effective way
• Knorr is Unilevers biggest brand 2.3 million sales in over 100 countries
• Number one producer of frozen foods in Europe- Iglo
• Leader in branded olive oil- Bertolli
• Largest seller of packet tea- Lipton, Brooke Band
• Market leaders Cif, Domestos, Omo, Skip
• Global leader in products- Axe, Dove, Lux, Ponds, Rexona, Sunsilk
• Worldwide turnover 49000 million Euro
• Research and development 1200 million Euro
• Community programs 69 million Euro
• No matter who you are, or where in the world you are, the chances are that our products are a familiar part of your daily life.

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Unilever to spin off ice cream business, cut 7,500 jobs for cost savings

• About 5.9% of global workforce to be cut to slash costs
• Ice cream unit to be spun off into standalone company
• Spinoff to yield modest sales growth, margin improvement

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Reporting by Eva Mathews in Bengaluru and Richa Naidu in London; Editing by Louise Heavens, Kirsten Donovan, Bernadette Baum and Susan Fenton

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Thomson Reuters

London-based reporter covering retail and consumer goods, analysing trends including coverage of supply chains, advertising strategies, corporate governance, sustainability, politics and regulation. Previously wrote about U.S. based retailers, major financial institutions and covered the Tokyo 2020 Olympic Games.

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Unilever to Cut 7,500 Jobs and Spin Off Ben & Jerry’s Ice Cream Unit

The consumer goods giant said the moves would make for a “simpler, more focused company” as consumers trade down to cheaper brands amid high inflation.

By Jason Karaian

Unilever, the consumer goods giant, said on Tuesday that it would cut 7,500 jobs and spin off its ice cream unit, which includes Ben & Jerry’s, to reduce costs and simplify its portfolio of brands.

The moves would make for “a simpler, more focused and higher performing Unilever,” Ian Meakins, the London-based company’s chair, said in a statement. The group’s ice cream unit generated 7.9 billion euros ($8.6 billion) in sales last year, or about 13 percent of the group’s total.

The division is home to Ben & Jerry’s, which Unilever acquired in 2000 , along with brands like Cornetto, Magnum, Talenti and Wall’s. The spinoff is expected to be completed by the end of 2025.

Hein Schumacher, who took over as Unilever’s chief executive in July, announced a plan late last year to “drive growth and unlock potential,” in part by focusing more attention on just 30 of the group’s hundreds of brands.

On Tuesday, he said the job cuts and ice cream spinoff would “accelerate” the plan, saving nearly $870 million in costs over the next three years. The layoffs, of “predominantly office-based roles” around the world, amount to about 6 percent of Unilever’s work force.

In early 2022, Nelson Peltz , one of Wall Street’s most prominent activist investors, began building a stake in Unilever. Mr. Peltz, who is known for pushing companies to simplify their corporate structures, got a seat later that year on Unilever’s board, where he remains.

After the proposed spinoff, Unilever’s remaining units would include health and beauty brands like Dove soap, consumer goods like Surf detergent and food brands including Hellmann’s mayonnaise.

Unilever rival Nestlé shifted many of its European ice cream brands to a joint venture with a private equity firm in 2016 and sold its U.S. brands, including Dreyer’s and Häagen-Dazs, to the venture in 2019.

Unilever has struggled in recent years, with revenue growth propped up by steep price increases as sales volumes have declined. Squeezed by inflation, consumers have been turning instead to cheaper brands in many of Unilever’s biggest categories, most notably less essential products like ice cream.

The ice cream division faced the highest input-cost inflation in Unilever’s portfolio last year, the company said in an earnings report last month. It passed on some of those costs to consumers, prompting them to buy less or switch to cheaper brands, leading to a “disappointing year with declining market share and profitability,” the company said.

“The company has tried accelerated cost-cutting for accelerated growth for at least a decade,” analysts at Bernstein wrote in a research note. “This plan remains ‘we will try harder’ to execute the same plan, or hope over experience,” they added. Unilever’s shares rose about 3 percent on Tuesday, but have been roughly flat over the past year.

Ben & Jerry’s, which has been run by an independent board since its takeover by Unilever, has not always sat comfortably in the portfolio of a staid multinational corporation. The founders of the Vermont-based brand are outspoken on hot-button social and political issues ; in 2021, they said they would end sales in Israeli-occupied territories .

That led some U.S. pension funds to divest from Unilever and prompted a shareholder lawsuit. Ben & Jerry’s sued Unilever in 2022 to stop it from selling distribution rights to a licensee in Israel. Unilever eventually sold the rights to its longstanding local partner there, which continues to sell the ice cream with slightly different branding.

Jason Karaian is the business news director, based in London. He was previously the editor of DealBook. More about Jason Karaian

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Unilever. Home and Personal Care Division. Market Overview. Market includes Liquid & powder detergents Shampoos, body washes, personal care items Perfumes Cosmetics. Market Trends. During 1990’s – tight competition in established markets Economic slowdown in global market

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• longer period
• breyers country crock hellmann
• strong cash reserves
• new products
• established markets

Presentation Transcript

Unilever Home and Personal Care Division

Market Overview • Market includes • Liquid & powder detergents • Shampoos, body washes, personal care items • Perfumes • Cosmetics

Market Trends • During 1990’s – tight competition in established markets • Economic slowdown in global market • Strong competition to develop new products • Need to control costs and price

Market Trends • Acquisitions or joint ventures to solidify global position • Strong need to be able to satisfy changing consumer preferences • Laundry detergents form the largest component – 50%

Products Unilever manages over 400 leading brands and just under 250 tail brands. These range from food to home and personal care.

Food Products Ben & Jerry’s Breyers Country Crock Hellmann’s Ragu Slim Fast Lipton Others

Home and Personal Care Dove Caress Pond’s Snuggle Wisk All Others

Technological Scope • Global integration of SAP software • Standardized corporate computer services – includes intranet • Standardized corporate e-mail • Warehouse management systems using bar code technology

Marketsand Distribution • Unilever Divided into 2 Major Divisions • Foods • Home and Personal Care • Improved Focus Globally and Regionally • Faster Decision Making • Strengthened Innovation Capacity

Marketsand Distribution • Home and Personal Care Divisions • North America • Europe • Asia • North Africa • Turkey • Middle East • Latin America

Manufacturing and/or Processing • Operations has 2 divisions • Foods • Home & Personal Care • Employs 265,000 people • Has 2 parent companies • Unilever NV • Unilever PLC • Corporate Centers • London • Rotterdam

Manufacturing and/or Processing (con’t) • One of largest users of packaging among consumer goods companies • Works with others to ensure public concerns are understood • Provides the best solutions possible • Trends in manufacturing • Fewer production centers • More efficient production centers

Manufacturing and/or Processing (con’t) • Pilot project to improve logistics of incoming raw materials to manufacturing locations • Carried out in Warrington, UK • Combine/optimize loads • Seek more direct deliveries • Some plants are making own bottles for liquid detergent • Reduced number of deliveries • Saving around 1,000 trips a month

Manufacturing and/or Processing (con’t) • Uses many forms of transport • Railroad • Ships • Trucking • Have minimized the environmental effects of transport • Ensuring vehicles are used efficiently • Shifting goods from road, to rail and water

Industry Attractiveness & Business Strengths • Nature of Competitive Rivalry • Unilever and P&G globally highly competitive • Sales driven by marketing • Bargaining Power of Suppliers/Customers • Carry clout with suppliers due to large consumption of supplier goods • Customer – available shelf space • Threat of Substitute Products • Low consumer differentiation • New Entrants • Large capital barrier to new entrants

Industry Attractiveness & Business Strengths • Economic Factors • Large Market • U.S. Market spends discretionary income on personal care products • Financial Norms • Personal care products carry higher profit margin • Customers tend to pay late • Socio Political • Environmental concerns – recyclable packaging • Community programs such as Forest Park Clean-Up

Industry Attractiveness & Business Strengths • Cost Position • Economies of scale due to large consumption of raw materials • Supply chain teams to control costs • Level of Differentiation • Recognition for key brands – Dove, Snuggle • Extremely effective in defending product patents • Response Time • In U.S. due to competition has had to improve flexibility • Continuing to combine business functions

Industry Attractiveness & Business Strengths • Financial Strength • Strong cash reserves • Striving to improve growth of revenues • Human Assets • Promotes high level of training and empowerment • Manufacturing becoming more non-union • Public Approval • Low recognition in U.S. • Highly recognized oversees especially in third world countries

Mission Statement • At Unilever we are dedicated to meeting the everyday needs of people everywhere. We provide washing powder, shampoo and toothpaste, teas, ice cream, oils and spreads for consumers all over the world.

Corporate Philosophy • Unilever's Corporate Purpose states that "to succeed requires the highest standards of corporate behavior towards our employees, consumers and the societies and world in which we live. This is our road to sustainable, profitable growth for our business and long-term value creation for our shareholders and employees."

SWOT Analysis • Strengths • Finance 1) Strong Cash Reserves 2) Global Purchasing 3) International Exchange Rate

SWOT Analysis • Strengths • Marketing • Extensive product lines make Unilever a formidable competitor • Strong image for well-known brand products • Use of creative advertising and promotions on website and commercials

SWOT Analysis • Strengths • Operations • Two Major Divisions – Foods and Home & Personal Care • #1 in many consumer product categories • Well developed supply chain

SWOT Analysis • Strengths • Human Resources • High level of training in place for employees • Employ approximately 265,000 people • Enterprise culture – developing employee to be more customer friendly

SWOT Analysis • Strengths • Information Systems • Corporate intranet and e-mail • All laptops and desktop machines organized the same (Sunrise hardware program) • SAP software used globally • Total Business Productivity – each category has website – example Accounting

SWOT Analysis • Weaknesses • Finance • Since it is an overseas stock – not included in US market analysis • Business acquisitions affect overall profit • Marketing • Lack of innovation in several categories has caused slippage in market share • Reduced marketing expenditures in television commercials

SWOT Analysis • Weaknesses • Operations • Innovation time cycles continues to need improvement • Consolidation of facilities is causing production turmoil

SWOT Analysis • Weaknesses • Human Resources • Expensive labor due to high benefit package • Union contracts limit flexibility • Information System • Global help desk – India & Ireland • Deferred updating due to leased hardware • Insufficient software package training

SWOT Analysis • Opportunities • Demographics • Products appeal to wide range of population • Product loyalty through generations • Technology • Automated manufacturing facilities • Already using product innovation needed for front loading washing machines

SWOT Analysis • Opportunities • Economy • Goods are durable in any economic environment • Use of international exchange rate • Global • Largest consumer manufacturer • Integration of international employees bring broad cultural and business experience in all processes

SWOT Analysis • Opportunities • Environment • Maximize recycled packing materials • Processes environmentally friendly • Products are biodegradable

SWOT Analysis • Threats • Demographics • Low product differentiation tends to make consumers reluctant to change products • Consumer purchasing base on cost • Technology • Competitors manufacturing technology innovations • Reduction in innovations due to patent constraints

SWOT Analysis • Threats • Economic • Internal turmoil in third world countries • Ventures in developing countries are jointly owned • Global • Internal business in country may be given preference • Knockoffs

SWOT Analysis • Threats • Environment • Increased regulations • Pressure to reduce utility consumption

12% 6% growth 6% Strategic Plan: Increase profitability from 6% to 12% in next 4 year

Assumptions • Prime Rate is 4% • Available Market Growth is ongoing at 1 – 2% per year • Assume our vendors will accept late payments • Assume our customers will pay net 30 • Existing computer hardware will be able to support new computer software • Outsourcing of production has acceptable sources

Strategic Plan • Action Plan #1: • Reduce costs in production of laundry detergents by 3 – 5% over next 4 years • Action Plan #2: • Strengthen market share in personal care products by increasing market share by 10% points

Action Plan #1 • Information Systems: • Upgrade information systems to achieve improve forecast of sales • Improvement in forecasting should result in a change from 10 week product coverage to 9 week product coverage • Improve scheduling • Improvement in raw material inventory • Reduces storage time 10 – 15% • These improvements would reduce storage time 10 – 15% • Storage equates to $1 to $2/sq ft • Results in a 10% savings

Action Plan #1 • Finance • Change payment on Accounts Payable from normal 30 day cycle to 45 day cycle • This allows capital to remain invested for a longer period • Example - $1M invested at prime (4%) results in $1643 additional revenue in the extra 15 days

Action Plan #1 • Marketing • Reduce marketing on cash cow brands such as Rinso, All, Final Touch and others • These brands can effectively be marketed in Club Pack stores – examples Cosco, Dollar General, Sam’s • Allows for reallocation of cash cow brand marketing budget to key brands only should result in an additional $8 M available

Action Plan #1 • Marketing – Anticipated 2004 advertising cost increases

Action Plan #1 • Production • Initiate process changes to increase utilization of assets and reduces fixed costs • Increase automation to reduce manual labor on production lines – reduction in staffing from 5 per line to 3 per line • Average hourly pay $15/hr plus benefits • Costs savings of $62,400/per worker • Outsourcing of production to reduce 2 production lines per facility

Action Plan #1 • Production • Increase quality control to reduce over pack – example • On a 50 oz package reduce your over pack from 2% to 1% • Assuming cost of $5/lb • Resulting savings of $3.4 Billion/year

Action Plan #1 • Research & Development • Reduce cost by alternative formulation • Reduce builder in powder detergents by 2% • Cost savings – reduce raw material cost from 0.15/lb to 0.09/lb • Total cost savings - $29 M/year • Human Resources • Provide additional staff and line worker training • Training with help lines run more efficiently

Pros and Cons • Gives cost reduction desired • By increasing efficiency – makes business more competitive • Focuses marketing on key brands • Sets corporate culture for future growth in this area

Pros and Cons • Disruptive to business • Contracts for raw materials need to be renegotiated • R&D diverted from innovation to cost savings emphasis • Negative reaction from laid-off workers

Cost of Reversibility • Many of these changes would not have a cost of reversibility associated with them • If the outsourcing of production needed to be reversed – loss of workers and the need to divert capital back into production facilities would be costly

Summary • In order to meet the strategic goal both action plans must be implemented • Personal care products have the higher profit margin • Upcoming changes in laundry detergent market necessitate reduction in production costs to maintain current profit margin

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Mass Layoffs Continue To Skyrocket In 2024. These 30 Companies Are Axing a Crushing Number of Jobs.

Posted: April 1, 2024 | Last updated: April 1, 2024

So far in 2024, a significant surge in job cuts has impacted numerous business sectors and families. Let’s take a look into this alarming trend, highlighting 30 companies that have announced major layoffs, underscoring the challenging economy workers and industries are navigating.

Unilever, the parent company of Dove, Axe, and various ice cream brands, has announced plans to cut 7,500 jobs and separate its ice cream businesses.

The company, which currently employs 128,000 people, is implementing a “productivity program” aimed at reducing its workforce, primarily in office-based roles, as part of a cost-saving initiative expected to generate $867 million in savings over three years.

Unilever plans to leverage technology to streamline operations and eliminate redundancies in order to achieve its cost-saving targets. This move follows a previous round of layoffs in 2022, during which 1,500 employees were let go.

In addition to the job cuts, Unilever is also pursuing the immediate separation of its ice cream divisions, relocating them to an office in Amsterdam. This decision has been well-received by shareholders, with an investment manager expressing optimism about the positive impact on the company’s share price.

The newly independent ice cream company will include popular brands such as Ben & Jerry’s, Magnum, Breyers, Walls, and Cornetto, according to CNN’s report.

Nike is planning to reduce its workforce by 2%, which will result in over 1,500 job cuts. The decision is part of a larger restructuring effort announced by the company on Thursday.

The sneaker company, based in Beaverton, Oregon, aims to reallocate its resources to focus on its growth areas, including running, women’s products, and the Jordan brand. CEO John Donahoe emphasized the importance of this strategy in reigniting the company’s growth.

Donahoe acknowledged the difficulty of the decision, stating that it is a painful reality that he does not take lightly. He also took responsibility for the company’s current underperformance and expressed accountability for himself and his leadership team.

Paramount Global has joined the ranks of major media companies in laying off up to 800 employees.

In a recent memo, Paramount Global’s CEO, Bob Bakish, stated that these “adjustments” are aimed at positioning the company to “build momentum” and “execute strategic vision” for 2024.

Cisco revealed its intention to reduce its workforce by 5%, eliminating approximately 4,250 jobs. This announcement caused Cisco’s shares to plummet by as much as 9% in after-hours trading.

DocuSign revealed its decision to reduce its workforce by 6% as part of a restructuring initiative to enhance its “financial and operational efficiency,” as stated in a release.

The online signature provider specified that most affected employees will come from its sales and marketing departments. With a current workforce of 7,336 employees, the cuts are expected to impact approximately 440 jobs.

American Airlines

American Airlines has officially announced its intention to lay off 656 employees from its customer support department as part of a consolidation effort to form a unified team.

The layoffs will affect 335 employees in Phoenix and an additional 321 in Dallas-Fort Worth who work within the company’s AAdvantage Customer Service, Customer Relations, and Central Baggage Resolution groups.

Estee Lauder

Estee Lauder disclosed on Monday its decision to reduce its global workforce by up to 5% as part of a restructuring initiative. The company, with approximately 62,000 employees globally, stated that the layoffs will impact up to 3,000 positions.

Estee Lauder attributed these cuts to a new restructuring program aimed at “the reorganization and rightsizing of certain areas of the Company as well as the simplification and acceleration of processes.” The implementation of this program is set to commence during the company’s fiscal third quarter.

Instacart revealed on Tuesday its plans to lay off approximately 250 employees, constituting around 7% of the company, as part of a restructuring effort. This announcement coincided with the company’s report of fourth-quarter earnings that closely aligned with analysts’ revenue estimates.

The layoffs are reported to be targeted at middle management roles as part of an initiative to establish a more streamlined organizational structure. Additionally, the company aims to refocus its teams on larger projects, including advertising efforts on platforms such as Roku and Google Ads.

Morgan Stanley

Morgan Stanley, the investment banking giant, is reportedly set to reduce its workforce in the wealth management unit by hundreds of employees, as indicated by a source familiar with the matter. This move aligns with a series of layoffs that various Wall Street firms have initiated since last year. The cuts are anticipated to affect less than 1% of the division’s employees.

Okta, a company specializing in identity management, announced to its employees that it will be reducing its workforce by 400 employees, constituting approximately 7% of the total number of employees.

The CEO, Todd McKinnon, conveyed in a message to the employees that the company is facing the reality of having costs that are still too high and needs to make difficult decisions as a result.

The social media company Snap announced its decision to reduce its global workforce by approximately 10%, which equates to around 500 employees. The company cited the goal of promoting in-person collaboration as part of the reason for this reorganization.

A spokesperson for Snap informed CNBC that the company is restructuring its team to minimize hierarchy and encourage in-person collaboration while also emphasizing their commitment to supporting the affected employees.

Warner Music

Warner Music has announced a significant reduction in its workforce, with approximately 600 employees, representing around 10% of its total workforce, being laid off. The company stated that these layoffs are part of a larger restructuring initiative designed to generate cost savings, which will be reinvested into music and the company’s growth over the next decade.

Zoom has announced a reduction of approximately 150 positions as part of ongoing efforts to enhance efficiency in response to investor expectations. This reduction represents less than 2% of the company’s total workforce. It’s important to note that these job cuts are not across the entire company. Zoom intends to continue hiring for roles in artificial intelligence, sales, product development, and various operational areas in 2024.

As part of cost-cutting measures, Google has laid off hundreds of employees from its hardware, voice assistance, and engineering teams. The company stated that these actions are aligned with its focus on “responsibly investing in our company’s biggest priorities and the significant opportunities ahead.” Google also mentioned that certain teams are implementing organizational changes, including role eliminations on a global scale.

Amazon is making headlines for reducing its Health Services workforce as part of its ongoing cost-cutting efforts. An internal memo from the company revealed plans to eliminate hundreds of positions within its Amazon Pharmacy and One Medical division. Impacted employees will have the opportunity to seek other roles within the company.

Amazon has been implementing layoffs since 2023 in response to the challenges posed by the Covid-19 pandemic. While the company experienced increased hiring during this period due to heightened demand for online services, the current trend reflects decreased demand, prompting a reduction in workforce. Amazon has already cut more than 27,000 jobs since the beginning of last year, with additional layoffs potentially on the horizon based on existing patterns.

BlackRock, the largest asset manager globally, has announced plans to reduce its current workforce by approximately 3%. This reduction equates to around 600 positions based on BlackRock’s total workforce of 19,800 employees. According to a source within the firm, the job cuts will not be concentrated within any single team.

Citigroup has unveiled plans to lay off 20,000 employees, which accounts for approximately 10% of its workforce, over the next two years. This decision follows the company’s poor quarterly financial performance, the worst in over a decade. Citigroup’s presentation to investors indicates that the layoffs could result in cost savings of up to $2.5 billion for the bank.

Discord has confirmed that it will be reducing its workforce by 17%, resulting in the layoff of 170 employees. This decision comes after the company, known for its popular messaging service for gamers, had previously eliminated approximately 40 positions in August. Discord joins a growing number of companies that have announced workforce reductions at the beginning of this year. In an internal memo, CEO Jason Citron stated that the layoffs are essential for Discord to improve its efficiency following a period of significant hiring in 2020. As of August, Discord had a workforce of 870 employees, based on data from PitchBook.

Duolingo made the decision to reduce its contract workforce by approximately 10% as part of its strategic shift towards a greater reliance on artificial intelligence. Although not all the layoffs were directly tied to this technological shift, the language learning company released some contractors towards the end of 2023 to accommodate changes related to AI in content generation and sharing. Duolingo has clarified that no full-time employees were affected by these layoffs and made efforts to identify alternative roles for all individuals before resorting to “off-boarding” as a last resort.

eBay’s President and CEO, Jamie Iannone, communicated to employees through a memo that the company will be implementing workforce reductions, resulting in the elimination of approximately 1,000 jobs. This accounts for about 9% of the full-time employees at eBay. Additionally, the company plans to scale back its contracts with the alternate workforce in the coming months.

Iannone, who has been leading the tech company since 2020, stated that these layoffs are part of broader changes aimed at positioning eBay for “long-term, sustainable growth.” He highlighted that the number of employees at eBay and associated expenses have outpaced business growth, prompting the need for these measures.

iRobot, the company known for its Roomba products, is set to undergo layoffs following the collapse of its plans to be acquired by Amazon.

With the Amazon deal no longer progressing, iRobot has announced that it will be laying off approximately 31% of its workforce, resulting in about 350 employees losing their jobs.

The company has outlined its intention to prioritize efforts to enhance margins, reduce research and development expenditure, and suspend work on all robots outside of its floor cleaning business.

Macy’s, the department store chain, is preparing to lay off approximately 13% of its corporate staff and shut down five stores as part of its cost-cutting strategy and redirection of spending to enhance the customer experience.

These job cuts will amount to around 2,350 positions, representing about 3.5% of Macy’s total workforce, excluding seasonal hires. Additionally, the company intends to streamline its management layers to expedite decision-making processes.

Microsoft plans to lay off approximately 1,900 employees within its gaming unit, constituting about 9% of the unit’s headcount. Phil Spencer, the CEO of Microsoft Gaming, stated that these layoffs are part of a broader “execution plan” aimed at reducing “areas of overlap.” This decision comes a little over three months after Microsoft completed its acquisition of Activision Blizzard.

PayPal’s CEO, Alex Chriss, announced in an internal letter to employees that the company will be reducing its global workforce by 9%, resulting in approximately 2,500 job cuts. These reductions will impact both existing roles and planned job listings at PayPal and are expected to be implemented over the course of the year.

Salesforce Inc. is implementing job cuts affecting approximately 700 workers, contributing to a series of tech layoffs at the beginning of 2024. According to a source familiar with the plans, less than 1% of the workforce will be affected. It’s worth noting that a year ago, Salesforce reduced its headcount by 10%. As of the end of October, the San Francisco-based company had 70,843 workers, as reported in a securities filing.

Sports Illustrated

Sports Illustrated, renowned for its high standard of sports journalism and photography, is set to lay off staff following the collapse of a licensing deal. The publication’s union has indicated that the layoff may impact “possibly all” of the NewsGuild workers it represents. However, SI senior writer Pat Forde has contradicted earlier reports, stating on social media that the entire staff has not been laid off, and emphasized that the website and magazine are still operational. Nonetheless, Forde described the day as “ugly” and “brutal” due to the significant number of layoffs.

UPS has revealed plans to implement 12,000 layoffs as part of an initiative to realign resources in 2024. According to CEO Carol Tomé, these workforce reductions are expected to result in cost savings of approximately $1 billion for the company. Tomé acknowledged the challenges faced in 2023, describing it as a unique and difficult year marked by declines in volume, revenue, and operating profits across all three business segments.

Universal Music Group

Universal Music Group is set to lay off some employees in 2024, as confirmed by a company spokesperson on Friday. The world’s largest record label is poised to join a trend of layoffs that has emerged this year. It is anticipated that Universal Music Group may reduce its workforce by hundreds of jobs in the first quarter, with a focus on its recorded music division. However, the company has not provided specific details regarding the exact number of jobs that may be affected.

Online home goods retailer Wayfair has disclosed plans to lay off around 1,650 employees, which accounts for approximately 13% of its global workforce. This move is projected to result in annual cost savings of over $280 million for the company.

In a news release, Wayfair CEO and co-founder Niraj Shah stated, “The changes announced today reflect a return to our core principles on resource allocation, such as getting fit on spans and layers as well as focusing on our highest priorities.”

Xerox has announced its intention to reduce its workforce by 15% as part of a plan to introduce a new organizational structure and operating model. According to a filing with the U.S. Securities and Exchange Commission, Xerox had approximately 20,500 employees as of December 31, 2022. Based on this figure, the layoffs announced on Wednesday are expected to impact around 3,075 employees.

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Menu trends to spark inspiration and sales in professional kitchens

Published: 26 March 2024

Providing ideas, innovation and impact, Unilever Food Solutions' Future Menu Trends Report 2024 is a key driver in the business’s growing success story. We look at how UFS is leveraging its powerful market insights and cutting-edge product portfolio to attract, engage and support chefs.

Unilever Food Solutions’ Future Menu Trends Report 2024 is out , and as always it is serving up much more than a glimpse of what’s hot in the professional kitchens of the world.

In addition to being a practical playbook of recipes that helps chefs get trending dishes on the table, the report also provides a key touchpoint for UFS to engage with the industry.

Drawing on the expertise of 250 in-house UFS chefs, the report leverages insights from more than 1,600 food service professionals across 21 markets to maximise engagement with existing customers, reach out to new clients and showcase innovative products from the Knorr Professional and Hellmann’s range which can support chefs in reaching their culinary goals.

“Unilever Food Solutions is a business of chefs for chefs,” says Star Chen, CEO, Unilever Food Solutions. “Our close communication with food service professionals allows us to have an in-depth understanding of their needs and pain points, which consequently allows us to offer unmissable, superior products that help address those needs.”

On the menu: growth, reach, engagement and sales

There is clearly an appetite for this kind of practical inspiration.

A recent Kantar report revealed that trends and recipe inspiration were in the top three most sought-after categories for chefs.

Since its launch in 2023, the report has had more than 3 billion media impressions and engagements with food service professionals worldwide through the report’s online/digital lead-generation model. This in turn has contributed to a 13% increase in new customers, allowing the brand to hit its 3 million operator target two years ahead of schedule.

But what is key for UFS is how this connection converts into action.

From inspiration to impact

“The Future Menu recipes offer us the opportunity to present our key products in action,” says Kees van Erp, UFS Global Executive Chef. “And to highlight how our innovations, be they in product or packaging or application, can address chefs’ pain points that we have identified in each market.”

UFS products used in Future Menu recipes, for example, may only constitute a small portion of the overall dish cost, but by providing shortcuts to great taste and texture, they make a significant impact both in terms of the quality of the final dish and the total food and overhead costs.

By showcasing the advantages of UFS products in this way, the Future Menu Trends report supports the business’s strategy of delivering consistent, competitive growth with superior products from core brands like Knorr Professional and Hellmann’s.

It’s a strategy that is certainly delivering. UFS has seen double-digit growth in 2023, with positive volume and price growth driven by its strong presence in Europe, North America and North Asia.

Trends that reflect kitchen concerns

Staying relevant to the challenges professional kitchens are under is key to UFS, which is why every year the menu trends evolve to reflect the pressures imposed by the current economic climate.

Consequently, this year’s Future Menu Trends offer a careful blend of authentic and inspiring on-trend recipes, perfectly adapted to the needs of kitchens looking to reduce labour and utilities costs and preparation time.

However, they also reflect front-of-house diner demands. This year, for example, there has been a special focus on Gen Z dining preferences.

“Gen Z demand bigger, better, more vibrant unforgettable experiences, seeing food as a form of escapism and regularly making dining choices based on the stories behind the food that they find on social media,” explains Angela Klute, Global CMO,

Here are two examples of the Future Menu Trends in action.

• The trend: Flavour Shock is an ‘anything goes’ approach that takes ingredients and gives them a serious and surprising culinary makeover.
• Chef’s advantage: With talent shortages and energy costs impacting the industry, chefs are looking for low-touch methods that achieve maximum impact. Knorr Professional offers the perfect solution with its extensive bouillon and seasoning portfolio. Its Liquid Concentrates and Intense Flavours seasonings, for example, deliver high-quality flavour boosts with easy dosage and minimal time and labour demands, while its Knorr Authentic Demi-Glace allows chefs to create a rich, flavourful sauce base in a few minutes instead of an hour.
• The bottom line: The Knorr Professional Bouillon and Seasonings category saw underlying sales growth of 15% in 2023.

• The trend: Plant-Powered Protein encourages chefs to make the most of plant-based dishes.
• Chef’s advantage: With 89% of meat-free meals being eaten by non-vegetarians, chefs can optimise their operations with menus that cater to all. Hellmann’s Vegan is a perfect trend match, allowing chefs to create rich and creamy sauces, dips and sides using a mayo that suits all diets.
• The bottom line: UFS has seen an increase in demand for Hellmann’s Vegan which has enjoyed a two-year compound annual growth rate of over 50%.

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