Reducing costs, transforming, and the impact of war Unilever PLC Sponsored ADR (UL.US) freezes hiring.

Due to the Iran war resulting in increased costs, Unilever PLC Sponsored ADR (UL.US) will freeze recruitment globally for three months. A spokesperson stated in a declaration, "In view of the uncertainty in the external environment, we have decided to temporarily pause recruitment. We have always maintained a flexible operating model and will adjust our plans as needed." In addition to a series of cost-cutting measures such as layoffs and adjusting bonus structures, the manufacturer of Dove soap is also taking the step to freeze recruitment. Meanwhile, the company is in deep negotiations with US spice manufacturer McCormick & Company, Incorporated (MIKC.US) to sell off most of its food business. With energy prices soaring due to the Middle East conflict, shipping companies and ocean freight carriers are imposing additional fees, putting consumer goods companies in a dilemma of rising costs. Additionally, the production costs of raw materials for plastic packaging, detergents, and shampoos are also increasing. Morgan Stanley analyst Sarah Simon stated in a report last week that Unilever PLC Sponsored ADR may be particularly vulnerable to the impact of the Iran war, as its ambitious sales growth targets rely on countries like India - which are highly susceptible to the increase in liquefied natural gas costs and reduced supply. When Fernando Fernandez took over as CEO of Unilever PLC Sponsored ADR last year, the company was in a phase of significant cost-cutting. His predecessor had set a plan to save 800 million euros (918 million dollars) by cutting 7,500 jobs within three years, while Fernandez expressed his intention to cut about 200 management positions to address the company's "mediocrity" issues. Unilever PLC Sponsored ADR is also undergoing a transformation, focusing on growth areas such as beauty and personal care. The company stated that it could announce the sale of its food division to McCormick & Company, Incorporated as early as Tuesday. Previously, Unilever PLC Sponsored ADR had spun off its ice cream business into a separate company - Magnum Ice Cream Co.