Business

Henkel wants to cut 2,000 jobs around the world

Persil, Schwarzkopf, Pritt: The Henkel group sells numerous famous brands. Now the company wants to save millions by merging parts of the company. 2,000 jobs are also affected.

Consumer goods group Henkel expects savings in the millions from the merger of its consumer goods businesses. 2,000 jobs worldwide are also affected, the company announced Thursday in Düsseldorf.

This mainly applies to sales and administration. Gross savings from the merger of the detergents, cleaners and cosmetics businesses are expected to amount to around € 500 million in the medium term.

Synergies are expected to come mainly from improved sales and administration structures, as well as in production and logistics, as well as in advertising and marketing. In the first phase, net savings of around 250 million euros are expected on an annual basis by the end of 2023.

Henkel has estimated the one-off costs for the first phase at 350 million euros. In addition, the portfolio needs to be further cleaned up and assets that perform below expectations need to be sold or suspended. Up for grabs are shops and brands with a turnover of up to one billion euros.

Earlier this year, Henkel announced plans to merge the two consumer divisions to increase growth and profitability.

About the author

hiyabad

Leave a Comment