Unilever announced on March 19th that it will take measures to accelerate its Growth Action Plan (GAP) by spin off its ice cream business and launching an important productivity plan. After the spin off, Unilever will become a simpler and more focused company, operating four major businesses: beauty and health, personal care, home care, and nutrition.
Unilever stated that it expects to save approximately 800 million euros in total costs over the next three years, which is sufficient to offset the expected operational losses resulting from the spin off of its ice cream business. The proposed changes are expected to affect approximately 7500 positions globally, and it is currently expected that the total restructuring cost over the next three years will account for approximately 1.2% of the group's revenue, higher than the previously announced 1%.