I'm not unfollowing this page, but you can see how it works :)
Facebook is getting in sync with the times by changing their “hide all” feature to “unfollow”. The button will work the same way so you can hide annoying or unwanted updates in your feed by clicking the arrow in the upper right hand corner of the post. This makes it so you don’t have to un-friend someone to have them out of your feed, you can just unfollow their Facebook posts.
“The goal of this change is to help people curate their News Feed and see more of the content that they care about,” a Facebook spokesperson wrote in a statement given to Mashable.