Kellogg to Cut More Than 2,000 Jobs as Part of Global Cost Cutting Plan
The world's largest maker of breakfast cereals said it could slash more than 2,000 jobs from its global workforce as part of a major cost cutting plan.
Kellogg announced it would cut about 7% of its workforce by 2017 and also trim production capacity, after reporting another quarterly decline in sales in its cereals business.
The maker of Corn Flakes and Rice Krispies did not specify the exact number of job cuts, but according to regulatory filings, Kellogg employed 31,006 employees in 2012, suggesting that there could be 2,170 job cuts.
"We are making the difficult decisions necessary to address structural cost-saving opportunities which will enable us to increase investment in our core markets and in opportunities for future growth," said John Bryant, Kellogg's president and chief executive.
The job losses are part of Project K, a four-year cost-cutting program that Kellogg launched on Monday.
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http://www.ibtimes.co.uk/articles/519955/20131106/cost-cutting-kellogg-jobs-losses-cereal-business.htm