Unilever Layoffs Hit 6,000 as Restructure and Ice Cream Spin-Off Advance

Unilever has given the thumbs up to the layoffs of 6,000 jobs around the world as part of its restructuring agenda. With an overall aim to streamline Unilever for greater efficiency and the cutting out of 7,500 positions globally, these layoffs form a part of the bigger scheme. The layoffs will result in an injection of cash into the company at the rate of €800 million (£ 683.9 million) per annum. The consumer goods giant-owner of household names such as Dove, Marmite, and Hellmann says the restructuring is “ahead of plan.” It is expected that, by 2025, the cost savings fly to €550 million (£470.2 million). Unilever employed about 128,000 people worldwide before the restructuring, with around 6,000 champions in the UK.

Key Points:

• Around 6,000 Unilever layoffs already completed
  
• Full restructure targets 7,500 job cuts globally
  
• Ice cream division, including Ben & Jerry’s and Magnum, to spin off
  
• New company, The Magnum Ice Cream Company, operational from July 1
  
• Stock listings planned in Amsterdam, London, and New York