- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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