Unilever, the company that makes Ben & Jerry’s ice cream and Magnum bars, announced on Tuesday that it is cutting 7,500 jobs worldwide and will spin off its ice cream business in an effort to reduce costs. The consumer goods giant, which also makes Dove soaps and Vaseline, said its ice cream business has "distinct characteristics" from its other brands and would benefit from separate ownership to increase growth.
Unilever, also behind Hellman’s mayonnaise, Axe fragrances and Cif household cleaners, said it is targeting underlying sales growth of mid-single digits after spinning off the ice cream business.It saw sales volume drop 3.6% in 2022 after jacking up prices 13.3% on average across its brands that year. In response, it raised prices just 2.8% last year, and sales rose 1.8%.