Kellogg to take $35 million pretax restructuring charge

FILE PHOTO: The company logo and ticker symbol for The Kellogg Company, is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 22, 2019. REUTERS/Brendan McDermid/File Photo

(Reuters) – Kellogg Co said on Tuesday it would take a pretax charge of about $35 million for restructuring its North American business following the sale of its popular Keebler brand and other assets.

The charges include about $20 million of expenses related to employee severance and termination benefits, the cereal maker said in a regulatory filing.

Reporting by Uday Sampath in Bengaluru; Editing by Shinjini Ganguli

Our Standards:The Thomson Reuters Trust Principles.
source: reuters.com