Unilever has agreed to protect employment terms of workers in its European and British food business for two years after the planned 2027 completion of its $65 billion merger of the unit with U.S. spice maker McCormick, according to a memo seen by Reuters.
Worker Protection Guarantee
The previously unreported guarantee, twice as long as is typical for such deals, will lock the new McCormick-Unilever Foods business into a deal until at least mid-2029, governing the treatment and pay of its European employees regardless of changes in business conditions.
Unilever, the maker of Knorr stock cubes and Hellmann’s mayonnaise, employs some 4,800 people in its food business across Europe and Britain, roughly a third of its regional workforce.
The company’s European Works Council, which represents nearly 20,000 employees across Europe and Britain, has expressed concern that the merger could lead to job losses and warned that prolonged uncertainty could trigger industrial action.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
