Latest news with #GoldenValley-based
Yahoo
28-05-2025
- Business
- Yahoo
Layoffs likely as General Mills announces $130M 'transformation'
General Mills is preparing to make what could be a sizable number of layoffs as it prepares for a $130 million "transformation." The Golden Valley-based food giant, which counts Cheerios, Pillsbury and Betty Crocker among its best-known brand names, submitted a filing to the SEC this week in which it revealed it had approved a "multi-year global transformation initiative." The actions are expected to cost the company $130 million by 2028, but $70 million of that will be incurred in its current quarter, and will "primarily" comprise severance payments. The company recently reported quarterly net sales of $4.8 billion, down 5% on a year ago, with an operating profit of $891 million, down 2%. There are no specific figures for potential layoffs or where they will occur. General Mills is the 37th biggest employer in Minnesota with an estimated 3,500 workers, according to state figures. Bring Me The News has reached out to General Mills for further comment. The company wouldn't be drawn on layoff numbers when asked by the Star Tribune, saying its main priority was "returning to growth," while acknowledging "this news represents hard choices."
Axios
28-01-2025
- Business
- Axios
General Mills calls the bulk of its corporate workers back to the office
General Mills is joining a wave of companies calling their corporate workers back into the office. Why it matters: The move is a major shakeup for employees of Golden Valley-based General Mills, who have been allowed to work from home for nearly five years. How it works: The company confirmed to Axios that employees in the North American retail segment — which accounts for 63% of General Mills' revenue — are expected to be in the office Tuesday through Thursday. The new policy begins Feb. 17 and does not include remote employees who live outside of the Twin Cities. What they're saying: Spokesperson Mollie Wulff told Axios in a statement that North American retail employees, "benefit from greater coordination on the best times to come together to enable collaboration and fast decision-making without losing flexibility." What we're hearing: One employee told Axios that the new policy feels like a reversal of what the company has touted as its " Working with Heart" guidelines that are supposed to provide generous flexibility. The employee, who was granted anonymity for fear of retribution, also said the timing of the Jan. 14 announcement left parents scrambling to find before- and after-school care for their kids with just a month's notice. General Mills said it's offering employees access to Cariloop, a service that helps employees find care for their kids and pets. The big picture: Return-to-office is picking up steam. In the second half of last year, the percentage of companies nationally requiring three days per week in office increased to 28% from 19%, according to the Flex Index report, which analyzes the state of flexible work. Last year, Minneapolis-based U.S. Bank began mandating employees back in the office three days a week and Maplewood-based 3M called managers back Tuesday through Thursday. What we're watching: President Trump has ordered federal employees back into the office five days a week. It remains to be seen if the private sector will follow his lead.
