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.
Unilever layoffs: Unilever logo is displayed in this illustration. (Reuters)
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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.
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Home/Business/Unilever layoffs: Magnum owner Unilever to separate ice cream unit, cut 7,500 jobs
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