AAA  Oct. 2, 2014
General Mills plans layoffs
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For the second time in a month, General Mills has announced plans to trim its workforce. The food company says it will cut approximately 700 to 800 jobs.

The Minneapolis company, which owns the Betty Crocker and Green Giant brands, said in a regulatory filing that the job cuts will take place mostly in the U.S. It expects about $135 million to $160 million in restructuring charges and foresees annual cost savings of approximately $125 million to $150 million, starting in fiscal 2016. General Mills anticipates the current restructuring to be completed by fiscal 2015's end.

Last month the company said it was closing a facility in Methuen, Massachusetts, which would eliminate about 250 positions.

Other household names in the U.S. like Kellogg and H.J. Heinz, have also had to readjust to shifting American diets.

*annualized

Source: FactSet

Detroit Free Press
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