Unilever's 10th largest shareholder praises jobs cuts and ice cream business demerger

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Managing director of Fundsmith and Unilever's 10th largest shareholder, Terry Smith, joined Sky News to discuss Unilever's plans to cut 7,500 jobs across its global operations.

The company separately announced that it planned to spin off its ice cream business, which includes the Ben & Jerry's, Magnum and Wall's brands, by next year.

He said, "it's positive - ice cream has been a troubled category for them". He also praised the job cut plans, saying "sales productivity per employee was lower than that of Kraft Heinz", the company which abandoned its £115bn offer to buy Unilever in 2017.

Read more: https://news.sky.com/story/marmite-maker-unilever-to-cut-7-500-jobs-13097884

#unilever #business #economy

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