General Mills expects to save $100M


WSJ: The food maker plans to streamline its North American supply chain.

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WSJ: The food maker plans to streamline its North American supply chain.

The company said a review of its North American manufacturing and distribution networks, along with plans to streamline operations and to identify potential capacity reductions, should generate $100 million in annualized savings by the fiscal 2017 year. The company said that steps associated with this project are expected to begin in the current quarter.

The maker of Cheerios and Wheaties cereal brands said it has also started to try to further reduce overhead costs, as part of its cost-cutting plan that aims to save $40 million pretax this fiscal year, with additional savings in 2016.

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