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11 Aug, Thursday
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Bull Trader USA

Deere Takes Hard Line After Workers Reject Second Offer

Reuters

Kellogg warns of earnings hit as workers’ strike drags on

About 1,400 of Kellogg’s cereal plant employees have been on strike since early October, demanding revised contracts. Kellogg said on Wednesday its cereal plant workers union had rejected a revised offer, which the U.S. packaged foods maker called its “last best final offer,” prolonging the months-long negotiations over a new contract. Chief Executive Officer Steve Cahillane said in the earnings statement on Thursday the company was working well in an “extremely difficult operating environment, marked by economy-wide bottlenecks and shortages and high cost inflation,” but warned of more challenges in the coming months.

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