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There was none of the frenzy that you see today.
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Given the recent cycle of bad news emanating from the infotech companies, though, this now seems like an optimistic prediction. Tough Times Ahead First off the block was Cognizant, which has over 2,60, employees, of which 1,50, are in India.
Multiple factors are attributed to the latest retrenchment cycle: He plans to look for another job in Bengaluru for at least three months, before relocating to another city. Now they will only hire when the need arises. Though he warns that this might be an extreme view, Narender Pani, professor at the National Institute of Advanced Studies, says one needs to keep in mind that there may also be a bigger reverse migration from the West, following incidents of racism and terror attacks.
Additionally, any crisis management strategy would be hampered by the lack of data. There are no macroeconomic estimates.
There might be talk of hiring locals but Indians have created a track record for themselves. And if Indian companies do hire abroad, they will finally become MNCs in the true sense. Like year-old Jatin Singh, a graduate from a premier engineering college who is now looking for another job after a bad rating in the current appraisal cycle.
Consumers needed these home, personal-care and food staples in good times and bad, the thinking went. In past sales downturns, companies ratcheted up research and development -- rolling out "new and improved" versions -- and tapped their vast marketing budgets. Today, that isn't good enough. Shoppers have gravitated in droves toward smaller, niche or locally made products. In many cases, they are seeking out healthy alternatives and more natural ingredients.
Manufacturing costs have fallen, allowing small players to seize quickly on trends. Social media and e-commerce have made marketing and distribution easier. Advertisement More than a decade ago, he said, Unilever centralized decision making, believing consumers in similar income brackets, from Miami to Mumbai, would be drawn to the same global brands.
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Instead, "the more things globalize, the more people want to affiliate with everything that is local," he said. Meanwhile, the share of the next 85 grew to The stakes are especially high for Unilever. The company was formed inwhen a British soap maker founded in the Victorian era combined forces with a slightly older Dutch margarine producer. Today, it remains a global giant in two of the consumer-goods sectors hardest hit by changing consumer tastes and the rise of smaller entrants: Some of the world's biggest investors say these big brands are doomed if they don't change radically.
He is pushing for a massive overhaul at the Cincinnati giant to retool its approach to selling consumer goods around the world. Schneider said in September. Early last year, Unilever found itself in the crosshairs, too, after Kraft Heinz Co. Unilever Chief Executive Paul Polman fended off the approach, but executives were shaken by the unwelcome bid.
Unilever shares rallied in February following Kraft's approach and kept rising most of the year as Mr. Polman announced a share buyback and the sale of the company's spreads business, among other moves, and raised its dividend.
Pitkethly, the CFO, unveiled in what he called the company's biggest shake-up in a decade, pushing more decision-making to local executives and giving them more say over how and when to launch new products. The company is also cutting costs. Unilever says the changes have helped speed up its reactions to new threats and opportunities.
The death of Thailand's king in October triggered a year-long period of mourning there. Unilever's Thai unit launched Breeze Black, a detergent formulated for black clothes, in 12 weeks -- about a quarter of the usual launch time for a new product.
At the same time it has scaled back the number of global launches but increased their size, rolling out pints of Magnum ice cream and a Dove variant for babies across 20 markets in one year.
The restructuring "enables us to be more global, more local," said home-care head Nitin Paranjpe. Critics, though, say the restructuring hasn't gone far enough. There have been missteps. Local teams have on occasion hustled to push out new products -- without some of the time-consuming market research of the past -- and have been disappointed.
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Unilever's India unit rushed out a masala mix in gram zip-lock pouches under its popular Knorr brand, only to discover that Indians prefer the gram and gram cartons competitors offered. The new mix also didn't account for variations in how people in different regions of India use spices. Unilever says such mistakes pay off.
In some other key battles, Unilever is being outfoxed.
Halo Top, a privately held low-sugar, high-protein ice cream, exploded from a kitchen experiment seven years ago to become a household name. Marketing of the multibillion-dollar brand is still built around its founders, Ben Cohen and Jerry Greenfield, who sold the higher-priced, natural-ingredients ice cream to Unilever in Instead, Unilever turned to its lower-priced Breyers brand, and rolled out an answer over the summer: Breyers Delights uses sugar alcohol, too, and mimics Halo Top's packaging -- splashing its calorie and protein content in big numbers on the front of cartons.
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But the new product hasn't yet done much to shore up Breyers' position. He expects a pickup for the companies' brands this year but says Unilever's reaction to Halo Top is still "not quick enough. It sells products in countries, making most of its revenue from emerging markets where its roots stretch back to colonial days. Over the decades, it has worked to tweak its biggest global brands to account for regional tastes. In Indonesia, for example, it says its Sunsilk shampoo is formulated for hijab-wearing women who complained about oily and sweaty scalps.