General Mills: FY14 plans call for returning more cash to shareholders The company says "Our plans for fiscal 2014 call for returning greater levels of cash to shareholders through both increased share repurchase activity and dividend growth." Repurchase activity is expected to reduce the average number of diluted shares outstanding by 2 percent in fiscal 2014.
General Mills says to cut 800 jobs primarily in the U.S. The company said earlier that "During Q2, we approved Project Catalyst, a restructuring plan to increase organizational effectiveness and reduce overhead expense. In connection with this project, we expect to eliminate approximately 800 positions primarily in the United States. We expect to incur approximately $146M of net expenses relating to these actions of which approximately $127M will be cash. We expect these actions to be largely completed by the end of fiscal 2015."