Unilever (UL) is freezing global hiring for at least three months as rising costs linked to the Iran war pressure consumer goods companies, Bloomberg reported Tuesday, citing a company spokesperson.

The move adds to wider cost-cutting steps, including job reductions and changes to bonus structures, the report said. The company is also in advanced talks to sell most of its food business to McCormick (MKC), it said.

The spokesperson said in a statement that the hiring pause reflects an uncertain external environment and may be adjusted if conditions change, Bloomberg said.

Unilever did not immediately respond to MT Newswires' request for comment.

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