Kellogg cutting 150 jobs as part of Keebler sale

BATTLE CREEK, Mich. (AP) — Kellogg Co. is cutting 150 salaried jobs across North America as part of the previously announced sale of its cookie and fruit snack businesses.

A company statement said approximately 66 of the jobs will be in Battle Creek.

The Battle Creek-based company said Tuesday the action will result in pretax charges of approximately $35 million, including $20 million in severance and termination benefits.

Kellogg announced in April that it was selling its Keebler and Famous Amos cookie brands — as well as its fruit snack, pie crust and ice cream cone businesses — to Italy’s Ferraro International for $1.3 billion.

That sale is expected to close at the end of July. Kellogg said its job cuts and staff reorganization will be complete by the end of 2020.

Kellogg’s shares fell 1.5% to $55.69 in late morning trading.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.