Consumer goods giant Unilever has announced plans to cut around 7,500 jobs globally as part of an overhaul aimed at saving around 800 million euros (£684 million) over the next three years.
The Marmite to Dove soap firm also revealed it would spin off its ice cream business – which includes the Ben & Jerry’s, Wall’s and Magnum brands – under the shake-up.
It said the jobs affected by the restructure would be largely office-based as it looks to invest in technology to boost productivity and save money.
The roles are expected to go over the next two years although staff will be consulted about the cuts.
Unilever did not reveal how many jobs would go in each country but it is expected that its UK workforce will be among those impacted.
Unilever, which is headquartered in Blackfriars, London, has 128,000 employees globally, with 6,000 in the UK.
Chief executive Hein Schumacher said: “Under the growth action plan we have committed to do fewer things better, and with greater impact.
“The changes we are announcing today will help us accelerate that plan.”
He added: “We are committed to carrying out our productivity programme in consultation with employee representatives, and with respect and care for those of our people who are impacted.”
Unilever said the ice cream arm would likely be demerged but added it would consider other options to “maximise returns for shareholders”.
The group will kick-start the demerger process immediately, with full separation set to be completed by the end of next year.
While the group-wide overhaul is expected to deliver significant savings, it will cost the firm about 1.2% of group sales over the next three years.
Ian Meakins, chairman of Unilever, said: “The separation of ice cream and the delivery of the productivity programme will help create a simpler, more focused, and higher performing Unilever.
“It will also create a world-leading ice cream business, with strong growth prospects and an exciting future as a standalone business.”