US food group General Mills has cited its customers’ shift to less processed and sugary foods as part of its reason for a restructuring that will see it cut up to 600 jobs globally.
The Minneapolis-based maker of Cheerios cereal is eliminating the role of chief operating officer.
The company will be split into four business groups — North America retail, Europe and Australia, Asia and Latin America, and convenience stores and foodservice.
The four groups will report directly to Jeff Harmening.
According to Reuters, the company saidthat its French dairy unit, which makes Yoplait yoghurt and Häagen-Dazs ice-cream, would work independently with each of the four business groups.
The company has been cutting costs amid a sales decline that has lasted for five straight quarters.
It said the savings from these changes will help it achieve its fiscal 2018 adjusted operating profit margin target of 20%.
The company has around 39,000 full-time and part-time employees.
Since September 2014, General Mills has had to close factories and outline its long term plans to cut about 5,000 jobs, more than a tenth of its workforce.
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