A new batch of General Mills (GIS) layoffs will cut anywhere from 700 to 800 jobs.
The jobs being cut as part of the General Mills layoffs are all going to be salaried positions. The cuts are expected to be completed by February 2015 and will cost the company $135 million to $160 million for restructuring. However, the changes will save it $125 million to $150 million a year starting in 2016, reports The Wall Street Journal.
General Mills employed about 43,000 employees as of May 25. Of these employees, 5,000 are employed at its headquarters in Golden Valley, Minn. Most of these are white collar workers and it’s unknown if the General Mills layoffs will affect them, the
Minneapolis Star Tribune notes.
A series of General Mills layoffs were also announced in September. These layoffs are the result of the company’s plans to close down a cereal plant located in Lodi, Calif., and will affect about 680 jobs, reports WSJ.
