Unilever to split ice cream unit, cut 7,500 global jobs
The completion of the plan is expected to occur by the end of 2025, marking the anticipated culmination within the specified time frame
Sumit Rawat
Unilever has revealed plans to spin off its ice cream division into an independent entity, marking a strategic shift for the company. This decision accompanies the introduction of a new cost-saving initiative that is expected to impact approximately 7,500 jobs globally. Among Unilever's notable ice cream brands are Magnum and Ben & Jerry's.
The separation process is slated for completion by the conclusion of 2025. The company clarified that the restructuring would encompass job cuts across its global operations, with anticipated total costs amounting to approximately 1.2% of its turnover during the specified period.
In an effort to streamline operations and sharpen its focus, Unilever aims to achieve mid-single-digit underlying sales growth and incremental margin improvements following the spin-off. The company views this restructuring as a pivotal step towards becoming a "simpler and more focused" organization, as stated in its official communication.
