MINNEAPOLIS — General Mills on Thursday said it will begin a new round of cost-cutting, chiefly in its international division, that will result in the elimination of 675 to 725 jobs over the next year.
The process will affect 20 jobs in Minnesota, a company spokeswoman said.
The company, based in the Minneapolis suburb of Golden Valley, said it will take a pretax charge of up to $62 million to pay for the restructuring, chiefly for severance and other employee-related benefits.
General Mills said the action would result in annual cost savings of $45 million to $50 million.
The company, like other packaged-food makers, has been enduring flat to slightly lower sales for more than a year as more consumers shift to less-processed food that they perceive to be healthier.