General Mills to Cut Jobs As It Closes Plants World-Wide
22 July 2016 - 1:01AM
Dow Jones News
By Austen Hufford
General Mills Inc. said Thursday that it could reduce its head
count by up to 1,410 jobs as the food maker shutters or reduces
production operations around the world.
As of May 29, General Mills had about 39,000 employees.
The Minneapolis-based food giant said it made the tentative
decision to close its Vineland, N.J., facility in fiscal year 2018,
pending negotiations and consultation with the union, to reduce
excess soup capacity in the U.S. If finalized, about 370 positions
will be eliminated.
The company, which makes Cheerios cereal, Häagen-Dazs ice cream
and Annie's mac & cheese, also announced capacity reductions
internationally. It will be closing its snacks manufacturing
facility in Marília, Brazil, and will stop producing meals and
snacks at its facility in São Bernardo do Campo, Brazil.
General Mills also will stop producing certain underperforming
snack products at its Nanjing, China, facility. The moves will
impact about 420 positions In Brazil and about 440 positions in
China.
General Mills said it had reached a deal to sell its plant in
Martel, Ohio, which produces dry mixes for the company's
convenience stores and food service segment, for about $18 million
in cash. The company expected the transaction to close in the
current fiscal year and said the move would impact about 180
positions.
In total, the company expected to take charges and have
increased expenses of about $120 million for the moves announced
Thursday.
Write to Austen Hufford at austen.hufford@wsj.com
(END) Dow Jones Newswires
July 21, 2016 10:46 ET (14:46 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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