The logo of Unilever is seen at the headquarters in Rotterdam

Unilever to cut jobs across all regions as Peltz builds stake -source

(Reuters) – Unilever PLC plans to slash thousands of management positions across its operations, a source familiar with the matter said on Monday.

The job cuts will be in the “low thousands”, the person said.

The development comes on the heels of reports that activist investor Nelson Peltz’s hedge fund, Trian Partners, is building an unspecified stake in the consumer goods giant whose strategy is under scrutiny after a short-lived pursuit of GSK’s consumer healthcare arm.

Bloomberg first reported the news on Unilever’s plans to cut jobs.

(Reporting by Richa Naidu in London and Jahnavi Nidumolu in Bengaluru; Editing by Sandra Maler)