The Sweet Revenge: Unilever is having a hard time recovering from the damage of the ice cream boycott

In an attempt to minimize damage after the stock crashed, Unilever Global has taken a dramatic step - splitting the ice cream division and firing 1,500 executives worldwide.

In the global economic press agree: the cause of the crisis is the demand not to sell the brand in the settlements

Walla!

Of money

26/01/2022

Wednesday, 26 January, 2022, 11:31 Updated: 12:01

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Unilever Global has issued two press releases announcing that it is splitting its products into five divisions, thus establishing a separate division for its activities in the field of ice cream.

Unilever also announced that it intends to enter an streamlining process in which it has announced that it is cutting 1,500 management-level jobs worldwide - a 15% drop in senior executives and 5% in junior executives.

Media outlets around the world link yesterday's announcement of last week's crash of 20.7% and the international pressure currently exerted on Unilever due to the boycott announcement in July last year and their demand from Avi Singer, the Israeli manufacturer, not to sell ice cream in parts of Jerusalem and Judea and Samaria.

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Ben & Jerry's ice cream: the boycott announced by Unilever as the ice cream brand, has become a self-proclaimed goal (Photo: Yachz)

The New York Post linked the current announcement to the pressures exerted on the company in the last six months since the boycott: "Unilever investors expressed displeasure last year when Ben & Jerrys refused to sell its products in the West Bank - prompting demands to boycott the popular ice cream brand."

This is in fact a confirmation of the publication in "Walla! Money" from last week, according to which the boycott that Unilever imposed on the ice cream brand it owns, is a major factor in the crash of its shares.

As you may recall, many states in the United States (for example: New York, New Jersey, Florida, Texas, Illinois, Colorado, etc.) have recently enacted the boycott law - designed to impose economic sanctions on those who boycott Israel, attracting Unilever investments and holdings worth Nearly $ 1 billion, which has, among other things, caused the stock to crash in the last six months and lose $ 26 billion in value.

Avi Singer, CEO and owner of Ben & Jerry's Israel: "Ben & Jerry's Israel will continue to fight against the direct boycott of Jerusalem and Judea and Samaria and will use all the tools at its disposal" (Photo: Matan Portnoy)

"Instead of lifting the boycott, Unilever is burying its head in the sand"

Avi Singer, CEO of Ben & Jerry's Israel, which employs 169 people at the Israeli plant, responded:

"Unilever continues to escape responsibility as a parent company.

Instead of taking responsibility and lifting the boycott, Unilever prefers to bury its head in the sand and ignore the fact that it bears the sole responsibility of all the companies it owns - including Ben & Jerry's Global.

Ben & Gris Israel will continue to fight against the direct boycott of Jerusalem and Judea and Samaria and will use all the tools at its disposal to make Unilever bear the required responsibility. "

In the video: A visit to the Ben & Jerrys factory in the south after a consumer boycott following the corporation's decision (Photo: Shai Makhlouf, edited by: Lear Spiegler)

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Tags

• Ben & Jerrys

• Unilever

• Boycott of Israel

• an ice cream