Consumer goods giant Unilever is to cut 20,000 jobs - 11% of its workforce - over the next four years.
The cuts will focus on European operations, but the firm said it was too early to give more details.
Unilever, whose brands include Hellmann's Mayonnaise, Surf and Lipton, employs about 179,000 people, including 8,000 in the UK.
Since 2004, it has already trimmed its staff from 223,000 by selling off brands and altering business methods.
The company plans to close or streamline about 50 of its 300 factories and to reduce its regional centres from about 100 to 25, as part of a bid to save 1.5bn euros a year by 2010.
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