57°
The global consumer goods company is cutting 7,500 roles worldwide as part of its new "productivity program," the company announced Tuesday, March 19.
Many say the move is a cold one, as for the first time since 1922, Unilever is leaving the ice cream business.
According to a release, ice cream generated approximately $8.6 billion in 2023 for Unilever. And according to the New York Times, that's approximately 13 percent of the total revenue for the year.
Unilever has owned some of the most popular ice cream brands in the world including Magnum, Cornetto, and of course, Ben & Jerry's.
While Unilever has research and development offices in Englewood Cliffs and a warehouse in Cresskill, it was not immediately clear if any jobs would be cut in New Jersey.
Unilever says ice cream has a "very different operating model," and the goal of the separation is to become a "simpler, more focused company."
Beauty and wellbeing; personal care; home care; and nutrition will take the forefront, the company said.
"The Unilever Board is confident that the future growth potential of Ice Cream will be better delivered under a different ownership structure," Unilever said.
"Ice Cream has distinct characteristics compared with Unilever’s other operating businesses. These include a supply chain and point of sale that support frozen goods, a different channel landscape, more seasonality, and greater capital intensity."
Click here to follow Daily Voice Englewood and receive free news updates.
