UL - Unilever Is Cutting Back On Ice Cream To Revive Its Business | Benzinga
Last Tuesday, Unilever PLC (NYSE: UL) revealed its plans to spin off its ice-cream business. Getting rid of the home of Ben & Jerry’s means cutting 7,500 jobs as part of the company’s cost-savings program. The consumer goods company plans to complete the spinoff by the end of 2025 with the CEO hinting on Sunday that the Netherlands has a good chance of becoming the division’s listing host.
Unilever Is On A Cost-Cutting Mission
After it spins off the business that makes 16% of its global sales and contributes up to 40% of total sales in some countries, Unilever promises to deliver mid-single-digit underlying sales growth along with modestly improving its margins. Over the next three years, Unilever aims to save around $869 million in costs.
Schumacher’s Agenda Is To Re-Invigorate The Company
When Hein Schumacher got behind the CEO wheel last July, he committed to simplify the business in order to get Unilever ...