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General Mills to cut workforce

2014-10-02 11:59:04| Agriculture - Topix.net

General Mills plans to cut about 700 to 800 jobs, the second time it has trimmed its workforce in a month as the food company adjusts to a shift by U.S. consumers away from boxed and frozen meals. The Minneapolis company that owns 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 about $125 million to $150 million, starting in fiscal 2016.

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