Unilever To Spin Off Ice Cream Business, 7,500 Jobs Affected

Unilever intends to separate its ice cream division into an independent entity, alongside announcing a new cost-saving initiative affecting 7,500 positions.

The programme will be implemented immediately, with completion expected by the end of 2025, according to the London-listed company, as reported by Reuters.

With brands like Magnum and Ben & Jerry's under its umbrella, Unilever aims for mid-single digit underlying sales growth and slight margin enhancement, aligning with its objective to become a "simpler and more focused company."

The workforce reduction will be global, with restructuring expenses projected to constitute approximately 1.2 per cent of its turnover during this period.