LONDON (AP) — 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.
London-based Unilever said its ice cream business, which also includes Magnum bars, has “distinct characteristics” from its other brands and would benefit from separate ownership to increase growth.
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.
The company 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.
Persons:
Hein Schumacher, ”, Richard Hunter
Organizations:
— Unilever, Unilever, London Stock Exchange
Locations:
London