Golden Valley, MN Food giant General Mills announced a global restructuring plan Monday that will eliminate between 400 and 600 jobs worldwide and one executive position.
In a press release, General Mills stated:
General Mills (NYSE: GIS) today announced a new global organizational structure that will support growth and drive greater efficiency by streamlining the company’s leadership, maximizing global scale, and increasing operational agility.
As previously announced, Jeff Harmening, President and Chief Operating Officer has assumed global operations responsibilities reporting to Chairman and CEO Ken Powell. As part of this new structure, the company is eliminating the position of International Chief Operating Officer…
“As we wrap up our 150th anniversary year, we are ready to take the next step in our journey to truly operate as a global company and fully resource our best ideas to drive growth,” said Ken Powell, Chairman and CEO.
Christopher O’Leary, International Chief Operating Officer for General Mills announced in November that he would be leaving the company. General Mills will not be filling that position once O’Leary leaves.
The announcement continues:
The new structure is expected to impact approximately 400-600 positions world-wide, subject to consultation with employees and employee representatives in locations as required.
“We continue to prioritize both growth and returns,” said Jeff Harmening, President and Chief Operating Officer. “The structural changes announced today will help us unlock global growth opportunities and go after them by efficiently restructuring our teams and processes. In addition, the capability investments and savings generated by these changes will help us deliver our fiscal 2018.
General Mills employs more than 3,000 employees at its headquarters and thousands more at other locations across the Twin Cities metro. According to the Minneapolis/St. Paul Business Journal, the restructuring will impact employees in Minnesota. Minneapolis/St. Paul Business Journal also reports that the announced job cuts is in addition to more than 3000 job eliminations since mid-2015.