Unilever PLC (LSE:ULVR) has announced plans to spin off its Ben & Jerry?s ice cream division and cut around 7,500 jobs globally as part of a major group-wide shake-up. The firm revealed the overhaul would see it spin off its ice cream business ? which also includes Wall?s and Magnum brands ?

most likely through a separate stock market listing. The group?s bosses confirmed that AI would ?play a role? in the jobs cull as part of a ?comprehensive?

programme to invest in technology. Unilever said while the ice cream arm would likely be demerged via a stock market listing, it would consider other options to ?maximise returns for shareholders?. It has not yet decided whether the ice cream arm would be listed in London or the Netherlands, where the division is currently headquartered.

The group will kick-start the demerger process immediately, with full separation set to be completed by the end of next year. The decision to demerge the ice cream business comes in the wake of Unilever appointing billionaire activist US investor Nelson Peltz to the board in 2022. 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 ice cream business, with strong growth prospects and future as a standalone business?.