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General Mills 2016 Layoffs


General Mills 2016 Layoffs

News today that Minneapolis based General Mils is laying off 400-600 employees and it appears that a number of them are coming at the headquarters.

AdAge has this article General Mills CMO Simonds Out Amid Overhaul and Job Cuts that starts with this and gets in depth on the changes in leadership:

“General Mills is laying out a new global structure including a new global chief marketing officer, and said CMO Ann Simonds would leave at the end of the year.

Along with the CMO shakeup, the company said the overhaul of its global structure includes four group presidents and plans to eliminate hundreds of positions.”

 


Minneapolis/St Paul Business Journal has this with some more information General Mills to cut between 400 and 600 jobs.

I was asked by a national reporter how those impacted in Minneapolis will do in their upcoming job search. My reply was that not knowing what roles are eliminated… that the job market here is good but that there likely will be 1-2 more layoff announcements before the end of January. What may have been a 1-2 month job search could go as many as 6 months depending on what roles, skill sets and salaries those people have.

If I see more info I will update this post.

Here is the press release from General Mills:


General Mills announces new organizational structure to maximize global scale

DEC 05, 2016

Four new global group presidents named

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. Effective Jan. 1, 2017, four business groups will report directly to Harmening, each led by a Group President:

“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.

In addition to the four business groups, the company is aligning its current dairy strategic brand unit (SBU) to this new global organization structure. The Dairy SBU, based in France and led by Olivier Faujour, will report to Harmening and will work with the Group Presidents to explore further opportunities to drive growth and innovation for the dairy platform globally. General Mills holds No. 2 positions worldwide in both yogurt and super-premium ice cream, with brands including Yoplait and Häagen-Dazs.

The company will also enhance its growth capabilities in several areas including strategic revenue management (SRM), e-commerce, and marketing innovation, and intends to augment its current talent with external expertise in these areas over the next several months. The new global revenue development group, which includes SRM and e-commerce, will report to Shawn O’Grady, Group President Convenience Stores & Foodservice and SVP, Global Revenue Development. The company intends to name a new global CMO/Marketing Innovation leader, who will report to Harmening.

Global operations functions including Innovation, Technology & Quality (ITQ) and Supply Chain will continue to report to Harmening. Global corporate functions including Finance, Legal, Human Resources, and External Relations will continue to report to Powell.

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

CONTACT

Analysts
Jeff Siemon, General Mills Investor Relations
763-764-2301

Media
General Mills Media Relations
763-764-6364 or media.line@genmills.com  

About General Mills
General Mills is a leading global food company that serves the world by making food people love.  Its brands include Cheerios, Annie’s, Yoplait, Nature Valley, Fiber One,Häagen-Dazs, Betty Crocker, Pillsbury, Old El Paso, Wanchai Ferry, Yoki and more.  Headquartered in Minneapolis, Minnesota, USA, General Mills generated fiscal 2016 consolidated net sales of US $16.6 billion, as well as another US $1.0 billion from its proportionate share of joint-venture net sales.

 

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