Unilever plc, one of the world's largest consumer brands and a major plastics user, is trimming down and cutting ice cream from its diet.
A Growth Action Plan, announced March 19, will see Unilever sell its ice cream business — with global sales of more than $8.5 billion — to be followed by a "productivity program" that will cut 7,500 jobs and save about $868 million annually.
London-based Unilever's ice cream division includes the Ben & Jerry's and Magnum brands. In announcing its plans, the company noted that ice cream requires different supply chain and point-of-sale logistics than its other holdings.
It will retain its beauty and well-being, personal care, home care and nutrition business units. Those divisions include brand names such as Dove, Vaseline, Axe, Sunlight, Hellmann's and Knorr.
"Under the [plan] we have committed to do fewer things, better and with greater impact," CEO Hein Schumacher said in a news release.