Unilever intends to separate its ice cream division, which includes widely-known brands such as Magnum and Ben & Jerry’s, creating an independent entity. This announcement by the consumer goods corporation further revealed a forthcoming cost-reduction scheme that will lead to a global reduction of 7,500 positions.
The segregation procedure will start forthwith, with an expected completion by the close of 2025, stated the company listed in London.
The firm anticipates a moderate profit margin enhancement and middle-range single-digit growth in underlying sales after the division, according to a released report.
Moreover, Unilever revealed a strategy aiming to achieve total cost-cutting benefits of approximately €800 million over the forthcoming three years. The suggested modifications could affect around 7,500 roles on a global scale with total restructuring expenses projected to be about 1.2 per cent of its turnover during the proposed timescale, explains Reuters.
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