Cost-saving initiatives continue at General Mills, Inc. which said Tuesday it will eliminate an additional 700 and 800 jobs within weeks of announcing plans to close two plants.
In a filing with the US Securities and Exchange Commission, the company said the announcement is part of a multi-year restructuring initiative “designed to increase organizational effectiveness and reduce overhead expense.” According to General Mills, the affected jobs are primarily in the US. The company will record restructuring charges of about $135 to 160 million, primarily reflecting one-time employee termination benefits.