Unilever to split off ice cream business
Consumer group aims for €800mn of cost savings in moves that will affect 7,500 staff
Unilever is to split off its ice cream business and accelerate its growth plan in moves that will affect 7,500 staff globally.
The company said its productivity programme would deliver savings of about €800mn over the coming three years, “more than offsetting operational dis-synergies” from the separation of ice cream.
The maker of Marmite, Hellmann’s, Dove soaps and cleaning products such as Domestos and Cif, which employs 128,000 people globally, said it would continue to optimise its portfolio in the remaining four business groups “through brands with global reach or significant potential to scale”.
The moves will raise its restructuring costs to an estimated 1.2 per cent of group revenues for the next three years, up from a previous estimate of 1 per cent.