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General Mills has approved a multi-year global transformation initiative aimed at boosting productivity through enhanced business processes and targeted organisational changes.

The initiative is expected to by completed by the end of its 2028 fiscal year, incurring total charges of approximately $130 million. Around $120 million of that is anticipated to be cash-related.

A significant portion of the costs – around $70 million – is anticipated to be recorded in the fourth quarter of fiscal 2025, primarily related to severance expenses.

General Mills said the initiative is designed to streamline end-to-end operations across its global business. However, it cautioned that the timing and total cost of the transformation are "subject to a number of assumptions" and "actual results may differ from current expectations".

In addition to the planned charges, the food giant also noted that further charges or cash outflows may arise over time, depending on developments related to the transformation initiative.

General Mills has not disclosed specific details of the organisational changes or how they may affect its operations in various markets.