Unilever to fire 10% of RP workforce

Unilever to fire 10% of RP workforce

MANILA: Unilever NV's Philippine unit said it will fire a 10th of
its workforce as it shifts production of peanut butter, pasta and
flavorings to more cost-effective plants abroad.

About 169 of 1,700 workers will lose their jobs, company
spokesman Chito Macapagal said in a statement. The unit will also
stop producing soups, instead hiring local companies to make
them, Macapagal said.

"These changes are critical to securing the long-term
profitable growth of the Unilever foods business in the
Philippines," he said.

Investors have shunned or pulled out of the Philippines
because of high labor, power and transport costs, according to
groups like the Semiconductor and Electronics Industries of the
Philippines Inc. -- Bloomberg