Unilever is cutting 7,500 jobs and spinning off its ice cream business

Unilever, the company that makes Ben & Jerry’s ice cream, Dove soaps and Vaseline, says it's cutting 7,500 jobs and spinning off its ice cream business to reduce costs and boost profits. London-based Unilever said Tuesday that its ice cream business, which also includes Magnum bars, has “distinct characteristics” from its other brands and would benefit from separate ownership to increase growth. It says the split is expected to be completed by the end of next year. The British consumer goods company with 128,000 employees also says it's launching a “productivity program” that's expected to lead to a reduction of about 7,500 mostly office-based jobs worldwide and save $867 million over the next three years.