Published: Thu, December 08, 2016
Research | By Jennifer Evans

Cereal maker General Mills to cut as many as 600 jobs

Cereal maker General Mills to cut as many as 600 jobs

Golden Valley, MN Food giant General Mills announced a global restructuring plan Monday that will eliminate between 400 and 600 jobs worldwide and one executive position. Starting on January 1, 2017, General Mills will also launch separate business groups for the North America, Europe and Australia and Asia and Latin America regions, along with another group handling convenience stores and food service clients. The company is eliminating the role of global chief operating officer and creating four business groups that will report directly to Jeff Harmening, the company's new chief operating officer.

In all, the company said the new structure would impact about 400 to 600 positions globally.

General Mills, Inc. had about 39,000 employees as of May, the Associated Press reported. General Mills also is hiring a new global chief marketing officer who will report to Harmening.

Bethany Quam, the president of the group's operations in Europe, Australia and New Zealand, will lead the Europe & Australia division.

General Mills is a leading global food company that serves the world by making food people love. Since 2014, General Mills is thought to have cut more than 10 percent of its workforce. Based in France and led by Olivier Faujour, this unit will report to Mr. Harmening and will work with the group presidents to explore global growth opportunities for the dairy platform.

General Mills also announced plans to improve its growth outlook by investing in e-commerce, new marketing approaches and strategic revenue management.

Global operations functions including Innovation, Technology & Quality (ITQ) and Supply Chain will continue to report to Harmening. His direct reports will include finance, legal, human resources, and external relations.

"We continue to prioritize both growth and returns", said Harmening, in a statement. "In addition, the capability investments and savings generated by these changes will help us deliver our fiscal 2018 adjusted operating profit margin target of 20 percent".

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