UK Business & Employment News
Unilever To Cut 7,500 Jobs And Spin-Off Ice Cream Division
Unilever, the company behind Marmite and Domestos, has announced 7,500 job losses globally.
The UK-based firm, with almost 128,000 staff, attributes the cuts primarily to technological advancements impacting office positions.
Its 6,000 UK workforce would be mainly affected by the downsizing as part of a three-year initiative to enhance productivity.
The company said it would divest its ice cream division.
This includes popular brands such as Ben & Jerry's, Magnum, and Cornetto, by the following year.
This move is part of a strategic review to optimise shareholder returns.
Unilever aims for mid-single-digit underlying sales growth and a modest margin improvement.
It projects the company will emerge as a more streamlined and focused entity.
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