Placeholder canvas
HomeBusinessUnilever to cut jobs and spin off ice cream division.

Unilever to cut jobs and spin off ice cream division.

Published on

Unilever, the owner of Marmite and Dove soap, is set to cut 7,500 jobs globally as part of a three-year cost-saving plan. Additionally, the company plans to separate its ice cream business, which includes popular brands like Wall’s, Ben & Jerry’s, and Magnum. This restructuring aims to streamline operations and focus on core products, with the spin-off expected to be completed by the end of 2025.

The job cuts, which primarily target office staff, are part of Unilever’s efforts to save around €800m over the next three years. While the ice cream division generated €7.9bn in sales last year, the company believes that separating it will simplify operations and create a more focused business model. Unilever’s chairman, Ian Meakins, envisions a stronger, more efficient company as a result of these changes, with the ice cream business poised for growth as a standalone entity.

Investors reacted positively to the news, with Unilever’s shares rising by 5% following the announcement. Analysts suggest that the underperforming ice cream unit is likely to be spun off through a demerger, allowing shareholders to receive shares in the newly listed entity. While other options like a direct sale are not ruled out, the focus remains on creating a world-leading ice cream business with promising growth prospects in the future.

Source link

Latest articles

Tesla recalls 4,000 2024 Cybertrucks in latest recall.

Tesla is issuing a recall for 3,878 of its 2024 Cybertrucks due to a...

Top credit cards for home projects in April 2024.

This news article discusses the importance of budgeting for home improvement projects and offers...

Sony shuts down LittleBigPlanet 3 servers, destroying fan creations.

Sony has made the decision to permanently shutdown the PlayStation 4 servers for the...

5 Maryland teens shot, 2 critically injured in senior skip day water gun fight.

Five Maryland teenagers were shot and two were critically injured during a water gun...

More like this

Tesla recalls 4,000 2024 Cybertrucks in latest recall.

Tesla is issuing a recall for 3,878 of its 2024 Cybertrucks due to a...

Top credit cards for home projects in April 2024.

This news article discusses the importance of budgeting for home improvement projects and offers...

Sony shuts down LittleBigPlanet 3 servers, destroying fan creations.

Sony has made the decision to permanently shutdown the PlayStation 4 servers for the...