Kellogg Co. to cut worldwide workforce by 7 percent over four years; Project K to save $475 million by 2018

Kellogg Co. announced a four-year efficiency program Monday that it says will result in a 7 percent reduction in the company's global workforce by the end of 2017. Called Project K, the program is being described as an efficiency and effectiveness program and will mean changes to the giant cereal maker's design and infrastructure that is expected to annually save Kellogg $425 million to $475 million by 2018.

The effort will include "an optimization of supply-chain infrastructure," according to the company that include the consolidation of facilities and the elimination of excess capacity, and it strive for increased productivity in global business services, which will mean the consolidation of "common processes or business services across multiple regions and functions." The company did not announce what facilities or operations would be effected or how consolidating may impact its operations in Battle Creek. Read more.