Ben & Jerry’s owner to exit ice cream sector, slashing 7,500 jobs worldwide
Big Scoop: Unilever to Spin Off Iconic Ice Cream Brands
Wave goodbye to the sweet days of Unilever serving up spoonfuls of icy treats. In a bold move, the company is stepping out of the freezer and bidding adieu to its beloved ice cream division, including household favorites like Ben & Jerry’s and Magnum.
A Strategic Shift for Unilever
In a swirl of change, Unilever’s shift comes as a part of its Growth Action Plan. The plan was whipped up last year with an aim to trim the corporate waistline by focusing on a select menu of business areas. By focusing on fewer, they serve up more — more efficiency, more growth, and more delectable quality in their diverse range of consumer goods.
“Simplifying our portfolio and driving greater productivity will allow us to further unlock the potential of this business, supporting our ambition to position Unilever as a world-leading consumer goods company delivering strong, sustainable growth and enhanced profitability,” says Unilever CEO Hein Schumacher.
The frosty farewell not only includes Ben & Jerry’s and Magnum but also reaches Cornetto and Wall’s.
Timeline and Job Impact
The chilly process of this separation is planned to conclude by end of 2025, during which approximately 7,500 global positions— primarily office roles — are expected to melt away.
Controversy Churns
Controversy has rippled through Ben & Jerry’s ranks, with the brand recently causing social media brain freeze. After a tweet implying the founding of the United States on ”stolen Indigenous land,” calls for boycotts scooped out roughly $2 billion in share value.
Further financial fallout includes a $111 million investment withdrawal by the New York State Common Retirement Fund, chilled by the company’s previous freeze-out of Israel in 2021.
Previous Portfolio Pruning
This latest spin-off scoops out more than just the ice cream division. It follows Unilever’s trend of tidying up its brand bouquet, as seen with their sales of other assets like the Dollar Shave Club and Elida Beauty.
Ben & Jerry’s, asked for a flavor of their thoughts, declined to sprinkle any comments to the Washington Examiner.
It seems Unilever’s journey is taking a turn from the sweet and creamy to a path focused and streamlined. While ice cream lovers may find this news less than delightful, the company is on a mission to craft a recipe for success with a leaner, meaner product offering.
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