Cargill is a big company that is cutting 5% of its global workforce, which means about 8,000 jobs. This is because they didn’t make as much money as before during the pandemic.
They want to save money and be more competitive, so they are making changes in their company. They are trying to focus on their strategy for the future.
The company is going to let go of people from different parts of the world and different job levels. About 475 people will lose their jobs at the company’s headquarters in Minnetonka. The company will tell these employees this week, and the job cuts will start in February.
The CEO of Cargill said most of the job cuts will be announced before the end of the year. They want to make their company simpler and more efficient.
Cargill’s profits went down to $2.5 billion last year, which is a decrease from before. Other companies in the agriculture industry are also facing challenges, like higher costs and less profit.
