- News>
- Companies
Unilever To Spin Off Ice Cream Unit; To Cut Around 7,500 Jobs
On Tuesday, March 19, 2024, Unilever announced that it will separate its ice cream division, which includes popular brands like Magnum and Ben & Jerry`s.
Highlights
- Over 50,312 employees of more than 209 tech companies lost their jobs in 2024.
- On Tuesday, Unilever announced that it will separate its ice cream division.
- The company plans to reduce its workforce by 7,500 jobs.
New Delhi: Layoffs that began in 2023, and the aftershocks are still felt in 2024. Over 50,312 employees of more than 209 tech companies lost their jobs in 2024 as big tech giants like Google and Amazon kept cutting staff. The sacking spree that started last year, continues to date.
Reason Of Layoffs
Most of the companies that have decided to cut their workforce said that restructuring made it necessary. (Also Read: NPS New Log-In Rule: 2FA Coming Into Effect From April 1 -- Here's What New It Brings)
Unilever Layoffs
As the third month of the ongoing year, i.e. March, comes to an end, there have been numerous reports of companies laying off staff due. Unilever is the most recent one. (Also Read: Samsung Galaxy S24 Ultra Is Available For Just Rs 49,999 In Sale: Check Offer Details)
On Tuesday, March 19, 2024, Unilever announced that it will separate its ice cream division, which includes popular brands like Magnum and Ben & Jerry's.
Affected Employees
Alongside this move, the company plans to reduce its workforce by 7,500 jobs as part of a new cost-saving initiative.
Number Of Job Cuts
About 7,500 jobs, which is about 5.9 percent of Unilever's total workforce of around 128,000 people, will be affected by these changes.
Spinoff Of Ice Cream Unit
The separation of the ice cream unit will start right away and is expected to be finished by the end of 2025, according to Unilever, which is listed on the London Stock Exchange. This means the ice cream division will become its own separate company.
(Inputs From Reuters)