General Mills has filed a notice with the SEC indicating a major company restructuring that is likely to result in layoffs. The Golden Valley-based company plans a “multi-year global transformation” aimed at boosting productivity and efficiency, with total costs projected at $130 million by fiscal year 2028. $70 million of that will hit in Q4 2025, mostly due to severance expenses. The company hasn't disclosed how many jobs will be cut or where. In a statement, General Mills emphasized that these changes are needed to reinvest in growth and innovation amid a challenging economic environment. Local experts warn that the Twin Cities job market is showing more distress than official data reflects.
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@6ar Yes I agree. Employees that don't like it can find another job. In fact, that's exactly what GM is hoping for. Most remote workers love to say how productive they are but in reality...they're being tracked and the data shows a completely different story.
Will there be more layoffs in 2026?
@1wc As well they should be. GM has a beautiful campus and people are too lazy to show up. They're literally destroying commercial real estate values which has a massive trickle down effect.
Item 2.05
Costs Associated with Exit or Disposal Activities.
On May 20, 2025, General Mills, Inc. (the “Company”) approved a multi-year global transformation initiative intended to drive increased productivity by enhancing end-to-end business processes, enabled by targeted organizational actions. The Company anticipates that the series of actions related to the transformation initiative will be substantially completed by the end of fiscal 2028 and will result in total charges of approximately $130 million, of which approximately $120 million will be cash. The Company expects to record approximately $70 million of the total anticipated charges in the fourth quarter of fiscal 2025, primarily reflecting severance expenses. The estimate of costs that the Company expects to record, and the timing thereof, are subject to a number of assumptions and actual results may differ from current expectations. The Company may also record other charges or cash expenditures not currently contemplated due to events that may occur as a result of, or associated with, the transformation initiative.
@1wc office workers spend half the day drinking coffee with friends or walking around gossipping
It's about time. Nobody shows up to HQ. Remote "workers" will be the first ones to be dumped
@t7 for the most part sales headcount remained the same. NRO will be critical to hit the orgs priorities so i think you will be ok.
Have any companies that have gone through a transformation actually transformed? Transformed to what?
Synergy
Reorganization
Realignment
Outsourcing
Cost savings
Disruption
They all mean- the company leadership failed
And there will be more cost cutting and layoffs than the last transformation
@qr In what departments?
I am in my third year as a RSR sales should I be worried? Some of my team mates say this will not impact the sales reps but a few older ones seem more worried.
2,000 head ct reduction next month