Conagra CEO hints at job cuts and reduced role for Omaha in favor of Chicago/Illinois

ConAgra Foods Chief Executive Sean Connolly is addressing shareholders this morning at an annual meeting at the Joslyn Art Museum in Omaha.



He said "likely yes" that there would be job cuts, geographic reshuffling and a greater emphasis on Illinois, where the company already has substantial offices outside of Chicago for its consumer-foods division, and where Connolly lives.



He said "absolutely yes" that Omaha will be a sizable part of the company and said a "significant presence" would be ongoing in Omaha.



On Illinois, Connolly said: "Illinois is an important part of our history and will continue to be an important part of our journey. It is likely there will be some increase there."



Sean Connolly said employees of the company would be informed next week about any major changes.