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MarketWatch MarketPulseJun 18, 2019
Kellogg to book $35 million in pretax charges to overhaul North America after sale of cookies business
Kellogg Co. announced a reorganization plan on Tuesday that will mostly affect its North American operations. The move comes ahead of the sale of the company's selected cookies, fruit and fruit-flavored snacks, pie crusts and ice cream cones businesses to Ferrero International SA, which is expected to close the end of July. "The reorganization plan is designed to simplify the organization that supports the remaining North America business after the divestiture and related transition," the company said in a regulatory filing. "The overall project is expected to be substantially completed by December 31, 2020." Kellogg is expecting to book pretax charges of about $35 million, including about $20 million to cover the costs of severance and other benefits. Shares were up about 0.5% premarket, but have fallen 0.8% in 2019 through Monday, while the S&P 500 has gained 15%.

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Reuters BusinessJun 18, 2019
Kellogg to cut jobs, take $35 million pretax hit on North America unit revamp
Kellogg Co said on Tuesday it would cut about 150 jobs and take a $35 million hit to trim its North American operations following the sale of Keebler biscuits and a handful of other brands for $1.3 billion in April.

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Kellogg to take $35 million pretax hit on North America unit revamp (CNBC Business)
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