Unilever to axe 7,500 jobs worldwide to save £624million as part of overhaul
Unilever has announced plans to cut thousands of jobs
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Unilever has announced plans to scrap 7,500 jobs worldwide as part of a wider overhaul of the company.
The owner of Ben and Jerry’s and Magnum is reportedly looking to separate its line of ice cream brands.
This overhaul is primarily aimed at saving around €800million (£684million) over the next three years.
The consumer goods firm confirmed the jobs affected will largely be those which are based in its offices.
This latest move from Unilever comes as it looks to invest in technology to boost productivity and save money.
According to the group, any impacted staff members will be consulted about the job cuts but did not reveal whereabouts they will be made.
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The consumer giant is cutting jobs as part on an overhaul
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These confirmed job cuts are expected to be implemented over the next two years, Unilever has said.
Currently, the consumer good giant has 128,000 employees with around 6,000 of these workers living in the UK.
Chief executive Hein Schumacher outlined the reasoning behind Unilever’s latest company overhaul.
He said: “Under the growth action plan we have committed to do fewer things better, and with greater impact.
“The changes we are announcing today will help us accelerate that plan.”
“We are committed to carrying out our productivity programme in consultation with employee representatives, and with respect and care for those of our people who are impacted.”
Under the company’s Growth Action Plan, Ice Cream is set to be separated into a “standalone, world leading” business.
With this separation, Unilever plans to transition into a streamlined group which operates four Business Groups across Beauty & Wellbeing, Personal Care, Home Care and Nutrition.
As part of the group’s Ice Cream business, the company has the top 10 selling global ice cream brands including Wall’s, Magnum and Ben & Jerry’s.
With new leadership, Unilever said Ice Cream will make operational changes “at pace that are expected to drive stronger performance”.
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Ian Meakins, the chair of Unilever added: “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.
“The separation of Ice Cream and the delivery of the productivity programme will help create a simpler, more focused, and higher performing Unilever.
"It will also create a world-leading ice cream business, with strong growth prospects and an exciting future as a standalone business.”