Kellogg Plans $45M Supply Chain Optimization In North America

In a regulatory filing, Kellogg Co K disclosed a reorganization plan for its North America supply chain network.
The overall project is expected to result in pretax charges of $45 million.
Expected cash costs of $25 million comprise $4 million from employee-related charges, including severance and other termination benefits.
Non-cash costs of $20 million primarily consist of accelerated depreciation and asset write-offs.
The plan involves shifting the production of various products to optimal lines across the Americas network.
Kellogg expects to complete the project by early 2024.
The company has said that no production facilities will be closed as a result of the plan.
Price Action: K shares are trading higher by 0.32% at $63.66 on the last check Friday.

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