Unilever Stock (UL): Why The Price Fell Today

By Amit Chowdhry ● Jan 25, 2022
  • The stock price of Unilever (NYSE: UL) fell by over 1.3% during intraday trading today. This is why it happened.

The stock price of Unilever (NYSE: UL) fell by over 1.3% during intraday trading today. Investors responded negatively to a report that Unilever will be cutting about 1,500 management jobs. And the company will be restructuring its business in order to focus on 5 main product areas following an attempt to drive growth after a failed acquisition.

Going forward, Unilever is going to focus on beauty and wellbeing, personal care, home care, nutrition, and ice cream.

“Moving to five category-focused business groups will enable us to be more responsive to consumer and channel trends, with crystal-clear accountability for delivery,” said Unilever CEO Alan Jope said.

Last week, Unilever canceled a plan to bid 50 billion pounds ($67 billion) for GlaxoSmithKline’s (GSK) consumer healthcare business for 50 billion pounds ($67 billion). The proposal was rejected by GSK.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.