Unilever has sacked nearly half of its 500- strong China-based marketing team for alleged corruption, reported South China Morning Post. Around 230 were fired for involvement in deals and practices with wholesalers and agents that the global foods and household products group found unacceptable. The investigation also looked into claims of product counterfeiting.
The group hopes to float one of its local joint ventures by 2005. Its Chinese partner would offer shares to local investors, leaving Unilever with 60-65 per cent of the equity.