116 3rd St SE
Cedar Rapids, Iowa 52401
General Mills to cut as many as 600 jobs globally
Reuters
Dec. 5, 2016 12:56 pm
General Mills Inc. said it would cut as many as 600 jobs globally as part of a new organizational structure and eliminate the position of international chief operating officer.
General Mills spokeswoman Bridget Christenson not able to say what, if any, impact the planned workforce reduction will have at its plant in Cedar Rapids. The facility at 4800 Edgewood Rd. SW employs more than 750 workers producing cereals, fruit snacks and Betty Crocker frosting.
As part of the new organizational structure, the company will be split into four business groups - North America retail, Europe and Australia, Asia and Latin America. and convenience stores and food service.
The company said its French dairy unit - which makes Yoplait yogurt and Häagen-Dazs ice-cream - would work independently with each of the four business groups.
Minneapolis-based General Mills has been struggling to boost sales as customers increasingly shift to less-processed and sugary foods.
The company has been cutting costs amid a sales decline that has lasted for five straight quarters.
General Mills said the savings from these changes will help it achieve its fiscal 2018 adjusted operating profit margin target of 20 percent.
The company had about 39,000 full- and part-time employees as of May 29.
Reuters General Mills will split itself into four business groups and cut up to 600 jobs.