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Dive Brief:
Dive Insight:
Inflation-weary consumers are cutting back on how much they buy, pushing down volumes at General Mills and other food manufacturers. The restructuring comes as a growing number of companies seek ways to enhance their operations and reduce costs.
“Amidst a dynamic external environment, returning General Mills to growth — our number one priority — requires increased investment back into the business,” the company said in a statement. “While this news represents hard choices, they are necessary to fund product innovation, create compelling consumer value and position General Mills for long-term success.”
Several prominent companies have announced plant closures and job cuts this year, including PepsiCo , Conagra Brands and Post Holdings . Earlier this week, jam and sweets maker J.M. Smucker said it will close and pursue a sale of a Hostess manufacturing plant in Indianapolis by early 2026 as part of a plan to consolidate its production footprint.