Marmite and Dove soap-owner Unilever recently announced a plan to cut approximately 7,500 jobs globally as part of a three-year cost-saving initiative. In addition to the job cuts, the company also disclosed its intention to separate its ice cream business, which includes well-known brands such as Wall’s, Ben & Jerry’s, and Magnum. Unilever aims to complete this spin-off by the end of 2025 as part of its strategy to streamline operations and focus on core business areas.
The restructuring at Unilever is expected to save around €800 million over the next three years, with the majority of job cuts affecting office staff. This move represents more than 5% of Unilever’s global workforce of 128,000 employees. The separation of the ice cream division is seen as a strategic decision to create a more efficient and focused organization, with chairman Ian Meakins highlighting the potential for a stronger, standalone ice cream business with promising growth prospects. Following the announcement, Unilever’s shares saw a 5% increase in value as investors reacted positively to the news.