General Mills revamps business after challenging year
The US food giant is to restructure its organisation after 12 months in which profits fell. What lies ahead for the Yoplait manufacturer?
General Mills yesterday reported a 12.8% drop in full-year profits as the steepest rise in input costs it has experienced in over 30 years weighed on its full-year earnings.
General Mills revealed today (27 June) it will split its US retail business into three divisions and create a regional structure for its international operations as part of plans to cut costs and improve efficiency.
US food giant General Mills said today (27 June) the steepest rise in input costs it has experienced in over 30 years weighed on its full-year earnings.
US food giant General Mills, which has suffered amid increasing input costs and a stagnant domestic market, this week announced it was cutting 850 jobs to improve efficiency and allow it to re-invest in other parts of its business. Just two days later, it announced a deal to buy Brazilian food manufacturer Yoki. Michelle Russell reports.
US food manufacturer General Mills has said it will cut around 850 jobs globally as part of a productivity and cost savings plan announced today (22 May).
- General Mills US "priority" categories gain share
- Interview part 2: BRF CFO Augusto Ribeiro
- 2015 preview: A better deal for M&A sellers
- Interview part 1: BRF CFO Augusto Ribeiro
- Interview: How BRF plans growth in stagnant Europe
- General Mills earnings drop one-third
- Kraft to reappraise business, says new CEO Cahill
- PepsiCo opens snacks plant in Saudi Arabia
- Pork Farms "disappointed" over Kerry deal ruling
- Bimbo to buy Saputo's bakery arm