Unilever layoffs: Magnum owner Unilever to separate ice cream unit, cut 7,500 jobs
Unilever is set to spin off its ice cream unit into a standalone business, it said. The company which is home to popular brands such as Magnum and Ben & Jerry’s announced a new cost-savings programme which would impact 7,500 jobs. The plan will come into place immediately and is expected to complete by the end of 2025, the London-listed company said as per news agency Reuters.
The company also said that through the change it aims to deliver mid-single digit underlying sales growth and modest margin improvement as the decision has been taken to become a “simpler and more focused company”.
The company launched a programme which is expected to deliver total cost savings of around 800 million euros ($869 million) over the next three years, it said.
The job cuts will be made globally and total restructuring costs now anticipated to be around 1.2% of its turnover during the period, it explained.
Brijesh Pathak is a seasoned journalist and editor at Daily News, bringing over a decade of experience in the media industry. Known for his sharp editorial insights and commitment to ethical journalism, Brijesh has covered diverse beats, including politics, business, and social issues. His leadership at Daily News has been instrumental in delivering impactful stories that inform and inspire readers. Passionate about storytelling, he combines traditional journalism values with modern approaches to keep audiences engaged in today’s fast-paced news environment.