General Mills to cut jobs under new restructuring plan

The company, like rivals ConAgra Foods Inc (CAG.N) and Campbell Soup Co (CPB.N), has been struggling with sluggish U.S. sales of cereals and frozen foods as consumers shift to foods perceived as healthier. While General Mills' U.S. sales for the third quarter ended Feb. 22 rose after five straight quarters of decline, international sales have declined in the last two quarters. General Mills said on Thursday it will record pre-tax restructuring charges of about $57 to $62 million, a bulk of which of will be recorded in the current quarter.

General Mills to cut jobs under new restructuring plan source: http://finance.yahoo.com/news/general-mills-cut-jobs-under-125205786.html