General Mills to cut as many as 600 jobs globally


Dec 5 (Reuters) - General Mills Inc, the maker of Cheerios cereal, said it would cut as many as 600 jobs globally as part of a new organizational structure and eliminate the position of international chief operating officer.

As part of the new organizational structure, the company will be split into four business groups - North America retail, Europe & Australia, Asia & Latin America and convenience stores & foodservice.

The company said its French dairy unit, which makes Yoplait yogurt and Häagen-Dazs ice-cream, would work independently with each of the four business groups.

Minneapolis-based General Mills has been struggling to boost sales as customers increasingly shift to less-processed and sugary foods.

The company has been cutting costs amid a sales decline that has lasted for five straight quarters.

General Mills said the savings from these changes will help it achieve its fiscal 2018 adjusted operating profit margin target of 20 percent.

The company had about 39,000 full- and part-time employees as of May 29. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Shounak Dasgupta)

A look at General Mills' offerings:

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General Mills cereals
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General Mills cereals
MIAMI BEACH, FL - FEBRUARY 22: General Mills on display at Best Of The Munchies: People's Choice Food Awards hosted by Andrew Zimmern during the 2015 Food Network & Cooking Channel South Beach Wine & Food Festival presented by FOOD & WINE at Beachside at The Ritz Carlton on February 22, 2015 in Miami Beach, Florida. (Photo by Sergi Alexander/Getty Images for SOBEWFF)
MIAMI BEACH, FL - FEBRUARY 22: General Mills on display at Best Of The Munchies: People's Choice Food Awards hosted by Andrew Zimmern during the 2015 Food Network & Cooking Channel South Beach Wine & Food Festival presented by FOOD & WINE at Beachside at The Ritz Carlton on February 22, 2015 in Miami Beach, Florida. (Photo by Sergi Alexander/Getty Images for SOBEWFF)
MIAMI, FL - SEPTEMBER 23: General Mills cereal products are displayed on a store shelf on September 23, 2014 in Miami, Florida. During a share holders meeting tomorrow, General Mills investors are being given the opportunity to vote on whether the company should remove genetically modified organisms from its products. (Photo by Joe Raedle/Getty Images)
MIAMI BEACH, FL - FEBRUARY 22: General Mills on display at Best Of The Munchies: People's Choice Food Awards hosted by Andrew Zimmern during the 2015 Food Network & Cooking Channel South Beach Wine & Food Festival presented by FOOD & WINE at Beachside at The Ritz Carlton on February 22, 2015 in Miami Beach, Florida. (Photo by Sergi Alexander/Getty Images for SOBEWFF)
MIAMI, FL - SEPTEMBER 23: In this photo illustration, the General Mills cereal Lucky Charms is seen on September 23, 2014 in Miami, Florida. During a share holders meeting tomorrow, General Mills investors are being given the opportunity to vote on whether the company should remove genetically modified organisms from its products. (Photo Illustration by Joe Raedle/Getty Images)
MIAMI, FL - SEPTEMBER 23: In this photo illustration, General Mills cereal products are seen on September 23, 2014 in Miami, Florida. During a share holders meeting tomorrow, General Mills investors are being given the opportunity to vote on whether the company should remove genetically modified organisms from its products. (Photo Illustration by Joe Raedle/Getty Images)
MIAMI, FL - SEPTEMBER 23: General Mills cereal products are displayed on a store shelf on September 23, 2014 in Miami, Florida. During a share holders meeting tomorrow, General Mills investors are being given the opportunity to vote on whether the company should remove genetically modified organisms from its products. (Photo by Joe Raedle/Getty Images)
MIAMI, FL - SEPTEMBER 23: In this photo illustration, the General Mills cereal Honey Nut Cheerios is seen on September 23, 2014 in Miami, Florida. During a share holders meeting tomorrow, General Mills investors are being given the opportunity to vote on whether the company should remove genetically modified organisms from its products. (Photo Illustration by Joe Raedle/Getty Images)
MIAMI, FL - SEPTEMBER 23: General Mills cereal products are displayed on a store shelf on September 23, 2014 in Miami, Florida. During a share holders meeting tomorrow, General Mills investors are being given the opportunity to vote on whether the company should remove genetically modified organisms from its products. (Photo by Joe Raedle/Getty Images)
MIAMI, FL - SEPTEMBER 23: General Mills cereal products are displayed on a store shelf on September 23, 2014 in Miami, Florida. During a share holders meeting tomorrow, General Mills investors are being given the opportunity to vote on whether the company should remove genetically modified organisms from its products. (Photo by Joe Raedle/Getty Images)
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