General Mills yesterday announced plans to cut hundreds of jobs and eliminate the international chief operating officer position as part of global restructuring.
The Wall Street Journal reports that Chief Operating Officer Jeff Harmening, whom many believe will be the next chief executive, was taking over the COO role for the entire company with four business groups reporting directly to him.
According to the company, the changes will “support growth and drive greater efficiency by streamlining the company’s leadership, maximizing global scale and increasing operational agility.”
The new structure is expected to impact approximately 400-600 employees world-wide, according to a company release. The Minneapolis/St. Paul Business Journal reports that some of the jobs affected will likely be from the food manufacturer's Golden Valley headquarters in Minnesota.
General Mills employs more than 3,000 at its headquarters and thousands more across the Twin Cities metro area.
This is just the latest in cuts from General Mills. Since September 2014, the company has eliminated or announced plans to cut about 5,000 jobs.