(TheLastPatriotNews.com) – In a sudden and upsetting move that will endanger the lives of working-class Americans whom the current administration might not seem to care about, Unilever unveiled its intent to dismiss 7,500 employees of its renowned ice cream franchise, Ben & Jerry’s.
As reported by ABC News, the conglomerate, which boasts an array of brands that include Magnum ice cream, Dove soap and Vaseline, aims to reduce costs and enhance profit margins through this strategic reduction in workforce and the divestiture of Ben & Jerry’s.
Unilever CEO Hein Schumacher, stated while echoing the company’s vision:
“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.”
The decision to separate Magnum and Ben & Jerry’s was the best shift for the company due to the ice cream brand’s “distinct characteristics,” as highlighted in the report.
This division, which is expected to take place at the end of 2025, seeks to propel the ice cream segment’s expansion.
As part of its “productivity program,” Unilever is set to implement 7,500 job cuts which predominantly affected office roles within its workforce of approximately 128,000. This followed a prior reduction of 1,500 positions in early 2022.
Likewise, the British multinational anticipated achieving efficiencies and circumventing redundancies by investing in technology. Over the next three years, Unilever aims to amass savings of $867 million.
As the report observed, in the aftermath of the announcement Unilever’s stock surged, exceeding 3 % in mid-morning transactions on the London Stock Exchange.
Head of Markets for Interactive Investors Richard Hunter remarked, “The share price bounce goes some way in reversing what has been a difficult last year, as investors have fretted over a company with limited high growth prospects and in need of streamlining despite its reputation as a solid defensive play.”
Ben & Jerry’s faced a decline in market valuation following a controversial tweet about “stolen indigenous land” released in early 2023. Moreover, the brand was previously criticized due to being engaged in political discourse which touched on issues like Israel and the Women’s March.
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