Business

Kellogg to cut workforce by 7%

NEW YORK — Kellogg is planning to cut its global workforce by 7 percent as the maker of Frosted Flakes, Rice Krispies, and Special K struggles to convince Americans to eat more cereal.

The company, which also makes Pop Tarts and Eggo waffles, also said Monday that it expects earnings per share for the year to be toward the lower end of its previous projection as a result of weaker-than-expected sales.

Advertisement

According to FactSet, Kellogg has 31,000 employees, suggesting the company plans to cut about 2,170 jobs.

Kellogg said the workforce reductions will take place by the end of 2017, along with plant consolidations and other cost-cutting measures it’s dubbing ‘‘Project K.’’

Get Talking Points in your inbox:
An afternoon recap of the day’s most important business news, delivered weekdays.
Thank you for signing up! Sign up for more newsletters here

Kellogg, based in Battle Creek, Mich., has been struggling to boost cereal sales in its flagship North American market. Although cereal remains a huge business, Americans are increasingly reaching for foods that they can eat on the go.

For the quarter, Kellogg Co. said earned $326 million, or 90 cents per share. Not including one-time items, it earned 95 cents per share, which was above the 89 cents per share Wall Street expected.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
You're reading  1 of 5 free articles.
Get UNLIMITED access for only 99¢ per week Subscribe Now >
You're reading1 of 5 free articles.Keep scrolling to see more articles recomended for you Subscribe now
We hope you've enjoyed your 5 free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com