Restructuring At Unilever Ireland Results In €9.8 Million Loss In 2010

Unilever’s Ireland unit lost €9.8 million in 2010, mainly because of restructuring costs totaling €7.1 million, which included severance payments, according to a report filed with the Irish Companies Office. The report noted that sales in the country dipped slightly in 2010 to €247.7 million from €248.4 million in 2009. The company’s pre-tax loss of €9.8 million was slightly better than the €10.6 million figure recorded in 2009. According to company directors, Unilever Ireland “saw decline in underlying turnover for the third consecutive year” and “In order to ensure the future success of the business, we announced a significant restructure.” The number of employees dropped to 210 from 238, and staff costs decreased by 10 percent, after “significant redundancies across all functions” were found.