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Sensodyne-maker Haleon set for job cuts
from Monday 31 July 2023
by cityam
CITY A.M. REPORTER
HALEON, which makes Sensodyne toothpaste and Panadol painkillers, has hired consultants to help with its restructuring plans as it looks to cut hundreds of jobs, according to a report.
McKinsey and EY have been drafted in to advise the firm on the costcutting exercise, where the firm hopes to save £300m over the next three years, the Sunday Times reported.
Haleon, which split from Glaxosmithkline (GSK) last year, employs 24,000 people globally, with 1,700 staff based in the UK. It is unclear where the firm could cut jobs.
Haleon didn’t immediately respond to a request for comment, but a spokesperson told the Sunday Times that as it entered the consultation process it was “fully committed to supporting colleagues who may be impacted”.
The news comes ahead of its halfyear results announcement on Wednesday, with analysts expecting profit to come in slightly lower than this time last year before the GSK split. Haleon reported £3bn in revenues on May, but has struggled under the pressure of rising inflation.
