-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WrtjiMkHavxj83qtkKlJVWeX9Ef/KmQAwm9yz5bzgXeg0H9+oSrTTLU1YTQVNPfJ 7BuprScWh2UVPoZl6/+9dA== 0000950124-98-007216.txt : 19981208 0000950124-98-007216.hdr.sgml : 19981208 ACCESSION NUMBER: 0000950124-98-007216 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19981202 ITEM INFORMATION: FILED AS OF DATE: 19981207 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KELLOGG CO CENTRAL INDEX KEY: 0000055067 STANDARD INDUSTRIAL CLASSIFICATION: GRAIN MILL PRODUCTS [2040] IRS NUMBER: 380710690 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-04171 FILM NUMBER: 98764771 BUSINESS ADDRESS: STREET 1: ONE KELLOGG SQ STREET 2: P O BOX 3599 CITY: BATTLE CREEK STATE: MI ZIP: 49016-3599 BUSINESS PHONE: 6169612000 MAIL ADDRESS: STREET 1: ONE KELLOGG SQUARE STREET 2: P O BOX 3599 CITY: BATTLE CREEK STATE: MI ZIP: 49016-3599 8-K 1 FORM 8-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 - ------------------------------------------------------------------------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): December 2, 1998 KELLOGG COMPANY (Exact name of registrant as specified in its charter) Commission File No.: 1-4171 State of Incorporation: Delaware IRS Employee Indentification No.: 38-0710690 One Kellogg Square Battle Creek, MI 49016-3599 (Address of primary executive offices, including ZIP Code) Registrant's telephone number, including area code: (616) 961-2000 2 Item 5: Other Events The Company issued a press release today in the form attached as Exhibit 99.01. SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS Certain statements contained in the Company's press release constitute "forward looking statements" under the Private Securities Litigation Reform Act. Projections related to expense reductions and savings forecasts, earnings and profitability, and the Companies restructuring efforts involve certain risks and uncertainties. Actual results may differ materially due to factors such as the impact of competitive conditions; changes in the levels of spending on system initiatives and business opportunities; other streamlining initiatives; changes in statutory tax law or generally accepted accounting practices; and other items. 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KELLOGG COMPANY By: /s/ Alan Taylor -------------------------- Vice President-Corporate Controller Date: December 2, 1998 4 INDEX TO EXHIBITS EXHIBIT NO. DESCRIPTION - ----------- ----------- 99.01 Press Release EX-99.1 2 PRESS RELEASE 1 EXHIBIT 99.01 [KELLOGG'S LETTERHEAD] - ------------------------------------------------------------------------------- KELLOGG COMPLETES WORK ACTIVITIES ANALYSIS, EXPECTS ANNUAL SAVINGS OF $105 MILLION BATTLE CREEK, MI -- Kellogg Company today announced that its work activity analysis has resulted in the elimination of approximately 525 salaried positions and 240 contracted positions at its headquarters and North American operations. Associated with these reductions will be an estimated savings of $105 million in annual expense beginning in 1999. "Over the past three months we have been engaged in aligning our work activities to our growth strategy," said Arnold G. Langbo, chairman of the board and chief executive officer of Kellogg Company. "Our strategy is centered on increasing growth in our ready-to-eat cereal business, accelerating the expansion of our convenience foods, and continuously improving the cost-efficiency of our operations worldwide. This alignment is the foundation for building a more focused, results-oriented organization. "We regret the adverse impact on employees leaving the company," Langbo said. "To assist each person in moving forward, the company is providing generous severance pay and benefits as well as career transition assistance." As a result of this initiative, the company expects to record a non-recurring pre-tax charge to earnings of approximately $70 million ($45 million after tax, or $.11 per share) for the quarter ending December 31, 1998. Kellogg plans to report quarterly and full-year 1998 results on January 29, 1999. Kellogg Company is the world's leading producer of ready-to-eat cereal and a leading producer of other grain-based convenience foods, including toaster pastries, cereal bars, bagels, and frozen waffles. -30- -----END PRIVACY-ENHANCED MESSAGE-----