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).
- Are consumers getting tired of consuming?
- Work on sugar could stir more clean-label concerns
- Hershey results, outlook, M&A - the top takeaways
- Free-from firm BFree Foods - bitesize interview
- How Danone is winning "key battles" to grow
- Nestle, R&R Ice Cream finalise joint venture plans
- Hershey buys company behind BarkThins brand
- Mondelez sees stronger margins, LFL growth
- Young's eyeing new channels, M&A
- PepsiCo, Target back campaign for gender parity