Overview

• Unilever announces plans to cut 7,500 jobs and spin off its ice cream business, including Ben & Jerry's, as part of a major restructuring aimed at boosting growth and profitability.
• The restructuring, expected to save around €800 million ($868 million) over the next three years, will involve spinning off the ice cream unit into a standalone business.
• The move comes amid pressure from activist investor Nelson Peltz and others to streamline operations and focus on Unilever's core brands.
• Ice cream brands, including Magnum, Cornetto, and Wall's, will be separated from Unilever, with the separation expected to be completed by the end of 2025.
• The job cuts, representing nearly 6% of Unilever's global workforce, are predominantly office-based roles as part of the company's productivity program.