Unilever, the company that makes Ben & Jerry’s ice cream, Dove soaps and Vaseline, is cutting 7500 jobs and will spin off its ice cream business to reduce costs and boost profits.
Unilever said it will invest in technology to find efficiencies and avoid duplication that it anticipates will help it save 800 million euros over the next three years.The company's shares jumped more than 3 per cent in late-morning trading on the London Stock Exchange. It saw sales volume drop 3.6 per cent in 2022 after jacking up prices 13.3 per cent on average across its brands that year.Some analysts pointed out that splitting from Ben & Jerry's, which is known for social activism that has put it at odds at times with its corporate owner, could have an added upside for Unilever.Unilever will split off its ice cream business which includes the Wall's, Ben & Jerry's and Magnum brands.