Latest news with #fiscal2028
Wall Street Journal
6 days ago
- Business
- Wall Street Journal
Lamb Weston Revenue Rises as Restructuring Underway
Lamb Weston Holdings LW 2.35%increase; green up pointing triangle plans to trim its workforce as part of a strategic plan to cut costs and improve its working capital. The French-fry maker on Wednesday said its cost-savings program is expected to deliver at least $250 million of annualized run-rate savings by the end of fiscal 2028. The cost savings include a workforce reduction of about 4%, which also reflects the elimination of certain unfilled positions, said the company.
Reuters
27-05-2025
- Business
- Reuters
General Mills flags $70 million charge in current quarter from restructuring efforts
May 27 (Reuters) - General Mills (GIS.N), opens new tab 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. General Mills did not provide further details on its restructuring actions in the filing. The company did not immediately respond to a Reuters request seeking more clarity. The move comes as the company grapples with choppy demand for its salty snacks and pet food in North America amid fierce competition from private-label rivals. In March, the company cut its annual sales and profit forecasts. Previously, the company had said that it was planning new initiatives targeting cost savings of at least $100 million in fiscal 2026.
