Unilever is axing 7,500 roles across the world in a three-year cost saving plan and separating its ice cream business, which includes the Wall’s, Magnum and Ben & Jerry’s brands.
The job cuts, which are predominantly office-based roles, are expected to deliver cost savings of €800m over the next three years.
Unilever said separation of the ice cream business will begin immediately and should be completed by the end of 2025. Following separation, Unilever said it will become a simpler, more focused company, operating four business groups across beauty & wellbeing, personal care, home care and nutrition. Ice cream, however, has a very different operating model including a frozen goods supply chain, different channel landscape, more seasonality, and greater capital intensity.
Ian Meakins, chair of Unilever said: “The separation of Ice Cream and the delivery of the productivity programme will help create a simpler, more focused, and higher performing Unilever. It will also create a world-leading ice cream business, with strong growth prospects and an exciting future as a standalone business.”
Hein Schumacher, CEO of Unilever said: “Simplifying our portfolio and driving greater productivity will allow us to further unlock the potential of this business, supporting our ambition to position Unilever as a world-leading consumer goods company delivering strong, sustainable growth and enhanced profitability.”
