Unilever separates from Ice Cream arm and cuts jobs
19 Março 2024 - 7:44AM
IH Market News
Unilever (NYSE:UL) announced steps to accelerate its “growth
action plan”, through the separation of Ice Cream and the launch of
a “major” productivity programme. The Ice Cream arm includes brands
Wall’s, Magnum and Ben & Jerry’s.
“The board believes that Unilever should be increasingly focused
on a portfolio of unmissably superior brands with strong positions
in highly attractive categories that have complementary operating
models. This is where the company can most effectively apply its
innovation, marketing and go-to-market capabilities. Ice Cream has
a very different operating model, and as a result the board has
decided that the separation of Ice Cream best serves the future
growth of both Ice Cream and Unilever,” Unilever said.
Following separation, the company said it will become “a
simpler, more focused company”, operating four groups across Beauty
& Wellbeing, Personal Care, Home Care and Nutrition. Unliver
also announced plans to launch a “productivity programme”.
This will generate cost savings of around EUR800 million over
the next three years, which will “more than” offset operational
dis-synergies from the separation of Ice Cream.
The proposed changes are expected to impact around 7,500
predominantly office-based roles globally, the company said.
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