In Wake Of Boycott, Kellogg Cutting Jobs And Reducing Sales Forecasts

 

Kellogg Co. officials insisted this week that a boycott called against it had no real impact on its bottom line as it offered a look at its future.

However Kellogg, which through its foundation funnels money to groups such as Black Lives Matter, also reported several facts showing the cereal giant faces major challenges.

 

Kellogg forecast its 2017 sales would drop 2 percent. Previous forecasts had called for flat 2017 sales.

Cereal sales in the U.S. were flat over the last three months of 2016, the company reported.

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In addition, the company is closing 39 distribution centers, with a potential loss of more than 1,000 jobs.

Kellogg CEO John Bryant, however, said there was no “discernable” impact on the company after it was struck by a boycott in November.

The boycott followed Kellogg’s announcement that it would pull its advertisements from Breitbart News website, saying at the time the company wanted to ensure ads did not appear on sites that aren’t “aligned with our values.”

 

In response, Breitbart launched its #DumpKelloggs petition, which was gathered more than 430,000 signatures.

Shortly after the boycott, it was revealed that the company’s philanthropic arm — the Kellogg Foundation — had given almost $1 million to Black Lives Matter.

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