Unilever has announced that they have scrapped plans to move their headquarters from London to Rotterdam in The Netherlands. The company is behind many retail favourites such as Hellmann’s, Ben & Jerry’s, Pot Noodle, Lipton, Magnum, Surf and Lynx.
The company is already a dual-listed business, with operations already within both cities. The move to close the London office was announced in March this year, with speculation that Brexit was the main cause for the unrest.
However, growing criticism from investors within the consumer goods giant pushed the leadership of the company to go back on this announcement – meaning the 7,300 UK employees’ jobs will be unaffected.
Unilever released a statement regarding the move, which read: “The proposal has not received support from a significant group of shareholders. The board will now consider its next steps and will continue to engage with our shareholders.”
Last year, Unilever was valued in the FTSE 100 index at around £124bn.