Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
As a result of a global restructuring General Mills Inc, the American multinational maker of Cheerios cereal announced a cut of up to 600 jobs. The new organisational structure eliminates the position of international chief operating officer.
The food company will be split into four business groups - North America retail, Europe & Australia, Asia & Latin America and into convenience stores and food service. The company announced that the French dairy unit will work independently with each of the four business groups.
Jobs will be lost in the US, possibly in Golden Valley, where the company is headquartered and also abroad. The savings from these changes will help General Mills to achieve its 2018 profit targets.
Eurofound (2016), General Mills, Internal restructuring in World, factsheet number 89395, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89395.