General Mills Flags $70 Million Charge in Current Quarter from Restructuring Efforts

General Mills said on Tuesday it would record a charge of about $70 million in its current quarter, mainly reflecting severance expenses, as part of the Cheerios cereal maker's restructuring efforts.

The company's efforts, including "targeted organizational actions", are expected to be completed by the end of its fiscal year 2028, it said in a regulatory filing, adding the total cost of the restructuring would be about $130 million.

"While this news represents hard choices, they are necessary to fund product innovation...

 

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