General Mills is cutting between 400-600 jobs as part of a "global restructuring" announced on Monday.
The food giant has eliminated the position of international chief operating officer and has created four "business groups" covering North America, Europe & Australia, Asia & Latin America and convenience stores/food service as part of a streamlining program.
"The new structure is expected to impact approximately 400-600 positions worldwide, subject to consultation with employees and employee representatives in locations as required," the company announced in a news release.
Although details on where the ax will fall have not been revealed yet, Director of Investor Relations Jeff Siemon told the Business Journal the job cuts will likely impact the company's headquarters in Golden Valley.
President and COO Jeff Harmening said in the release that the changes will "unlock global growth opportunities" for the company, whose brands include Cheerios, Betty Crocker, Jus-Rol, Haagen-Dazs, Annie's, Totino's and Yoplait.
General Mills is one of the largest employers in Minnesota, with the Department of Employment and Economic Development putting state employee numbers at 4,685.
The Star Tribune reports the company has eliminated or announced plans to cut around 5,000 jobs since 2014 as part of a series of "sweeping cost-saving initiatives."
The latest restructure is expected to start on Jan. 1 and will be completed by the end of 2018, the company said.