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Kellogg's looks to make cuts as cereal sales fall

BATTLE CREEK, MI (WTVB) - Just as Kellogg sales grew as the recession saw more people to eat at home, the recovery seems to have taken a bite out of the cereal business. CEO John Bryant told stockholders yesterday that sales of breakfast foods was down in the third quarter. Suspecting it may be a long term trend, they have announced Project K, which will, among other things, close facilities, and streamline and eliminate 7% of the firms global workforce over the next 4 years. Exactly where those job cuts will come from has not been announced.