Unilever, the parent company of Hindustan Unilever, on Tuesday announced to separate its ice cream unit into a standalone business, in a restructuring exercise that will result in nearly 7,500 job losses at the company.
The company said in a statement that the expected changes, to be completed by the end of next year, are expected to impact around 7,500 predominantly office-based roles globally, with total restructuring costs now anticipated to be around 1.2 per cent of Group turnover for the next three years.
“The Board is determined to transform Unilever into a higher-growth, higher-margin business that will deliver consistently for all stakeholders. Improving our performance and sharpening our portfolio are key to delivering the improved results we believe Unilever can achieve,” said Ian Meakins, Chair of Unilever.
The separation of ice cream will create a world-leading business, operating in a highly attractive category, with brands that together delivered turnover of …