Unilever to cut 7,500 jobs and spin off its ice cream business, which includes Ben & Jerry's

The company will be selling off the Ben & Jerry's brand as well as the Magnum brand of ice cream bars.LONDON, UK — Unilever, the company that makes Ben & Jerry’s ice cream, Dove soaps and Vaseline, said Tuesday that it is cutting 7,500 jobs and spinning off its ice cream business to reduce costs and boost profits.

The British consumer goods company with 128,000 employees also said it is launching a “productivity program” that is expected to lead to a reduction of about 7,500 mostly office-based jobs worldwide. “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," said CEO Hein Schumacher, who took the helm at Unilever last summer.

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.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Unilever to cut 7,500 jobs and spin off ice cream business, which includes Ben & Jerry'sUnilever, the company that makes Ben & Jerry's ice cream, Dove soaps and Vaseline, says it's cutting 7,500 jobs and spinning off its ice cream business to reduce costs and boost profits.
Source: KSLcom - 🏆 549. / 51 Read more »

Ben & Jerry’s and Magnum will form the core of an $8 billion ice cream companyThe world’s biggest ice cream business is about to go it alone.
Source: cnnbrk - 🏆 393. / 55 Read more »