General Mills this week announced a global restructuring that is expected to affect between 400 and 600 jobs.
The new structure will also eliminate the position of international chief operating officer. Instead, the company's four business groups — North America Retail, Convenience Stores & Foodservice, Europe & Australia and Asia & Latin America — will report to president and COO Jeff Harmening beginning next year.
(Matt Rourke, AP Photo)General Mills also plans to bolster its France-based dairy unit and add external expertise relating to strategic revenue management, e-commerce and marketing innovation.
The Minnesota-based food giant, which owns the Cheerios, Pillsbury, Progresso and Yoplait brands, struggled in recent years as consumers increasingly turned away from packaged foods.
“As we wrap up our 150th anniversary year, we are ready to take the next step in our journey to truly operate as a global company and fully resource our best ideas to drive growth,” CEO Ken Powell said in a statement.
