Unilever to cut 20% of workforce

Unilever Ghana Limited, a multi-national giant in the manufacturing business, has begun reducing its 750 workforce by 20 per cent in response to ?difficult market? conditions.

Even though the exercise is stated to effect all divisions of the company, workers in the plantation sector will be affected the more.

The Financial Director of Unilever Ghana, Mr Emmanuel K. Idun, announced this at a news briefing in Accra yesterday at the Ghana Stock Exchange (GSE).

The forum dubbed ?Facts behind the Figures?, serves as a platform for companies listed on the GSE to outline their performance and to meet the investing public, financial analysts and the media to explain issues to them.

Mr Idun said the restructuring of the company?s processes and structures is in response to the difficult market situation aimed at restoring Unilever?s competitiveness in the market place.

He pointed out that ?the benefits of the restructuring have begun to show through the company?s significant cost reductions in the later part of the third quarter of the year?.