Unilever Announces Ice Cream Unit Spin-Off and Job Cuts

Unilever plans to spin off its ice cream unit, including brands like Magnum and Ben & Jerry's, into a standalone business and cut 7,500 jobs as part of a cost-savings program. The company aims to deliver mid-single digit underlying sales growth and modest margin improvement after the split, with a focus on simplifying the business and streamlining its workforce. CEO Hein Schumacher aims to focus on 30 key brands that account for 70% of sales and improve gross margins, while not undertaking major acquisitions.