Kellogg Company

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Kellogg Company NYSE
 
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Important events

Jun 222022

Kellogg’s goes crunch

Everyone’s fave crunchy ‘Battle Creek in a Bowl’ brand is breaking up into three on a big day for food stocks.

  • Kellogg’s shares lifted 8% in Tuesday’s premarket but closed up only 1.95% after announcing that it‘ll be splitting its business into three separate food companies focusing on cereals, snacks, and plant-based food.
  • It’s only the latest in a growing list of US heavyweights breaking up recently. We’ve seen GE become three, Johnson & Johnson split its business, and IBM spin off a large part of its operations last year. For Kellogg’s, the decision was made easier by stagnating cereal sales (they’re gonna be focusing on snacks now) and rising producer prices.
  • Food stocks had a BNO (big night out) on Tuesday. Cadbury-owner Mondelez is upping its snack game as well by buying Clif Bar & Company for $2.9bn, marking the brand’s ninth acquisition since 2018, and Krispy Kreme is rolling out a brand new soft serve product. Whoo. Both saw shares lift marginally on the day.
Haithem Ferdi / Unsplash

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Dec 132021

Redditors to the rescue

Kellogg has caused quite the controversy lately, but an online army is using the power of annoyance to exact vengeance.

  • Kellogg is replacing 1,400 workers that have been on strike since October 5 over stalled union negotiations at the company.
  • It drew the outraged attention of the internet. TikTok, Reddit, and even President Joe Biden have heavily criticized the company, leading to a string of cereal boycotts.
  • Redditors are flooding its job portal in solidarity with the strike, spamming and crashing the platform with bogus applications to make sure none of the slots are filled.

Kelloggs is trying to replace 1400 striking workers. Millennials & Gen Z flooded the jobs postings with fake applications and crashed the system. This is what solidary looks like. #StrikeMas #1u