US food giant General Mills has announced that the company is restructuring and plans to cut up to 1400 jobs worldwide.
According to sources, the company plans to cut from 700 to 800 jobs in the US and Canada and 500 to 600 jobs internationally.
In May, General Mills filed a Form 8-K to announce the restructuring process aimed to align its organisational structure and resources with its strategic actions.
“As we shared in our 8-K filing, we are making organisational changes to ensure General Mills continues its momentum. We are investing in key areas such as digital, data and technology, e-commerce and others that are critical to our future success”, said Kelsey Roemhildt, senior manager of media and investor relations and corporate communications at General Mills.
The restructuring also includes reshaping the portfolio and management modifications.
The giant has had a strong year in sales due to the pandemic and the increase of at-home food consumption but the company expects a slower pace now that the demand is diminishing.