General Mills to eliminate about 850 jobs - 13 WTHR Indianapolis

General Mills to eliminate about 850 jobs

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MINNEAPOLIS -

Food maker General Mills Inc. said Tuesday it will cut about 850 jobs as part of a plan to lower costs and boost efficiency.

The Minneapolis-based maker of Cheerios cereal, Nature Valley granola bars and Hamburger Helper said the moves will make it more effective and allow it to focus on key growth strategies.

General Mills said it expects the plan to result in total pretax charges of about $109 million, which will cover costs related to workers whose jobs are terminated and equipment.

General Mills shares rose 3 cents to close at $38.58 Tuesday.

(Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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