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Thursday, December 5, 2013

Unilever streamlines products, cuts jobs to confront world slowdown, (NYSE: UL)

Consumer products giant Unilever Plc aims to cut the number of individual products it sells by 30 percent by the end of 2014 to become more efficient and navigate a global economic slowdown it admits it was slow to confront.The Anglo-Dutch maker of Ben & Jerry's ice cream, Lipton tea and Dove soap also said on Thursday it is cutting about 2,000 jobs and will continue to adjust its portfolio."The global economy has calibrated down about 1-1.5 percent and we probably should've done a better job seeing it coming," said Unilever Chief Executive Officer Paul Polman in a presentation in London that was broadcast over the internet."We're using that opportunity to step up the performance and drive new energy into the organization."

Unilever PLC (PLC) is a supplier of fast moving consumer goods. Shares of UL fell by 0.05% or $-0.02/share to $39.81. In the past year, the shares have traded as low as $37.40 and as high as $43.88. On average, 1362400 shares of UL exchange hands on a given day and today's volume is recorded at 780882.