Commodities Trading Giant Cargill Plans to Cut Around 8,000 Jobs
Global trading house Cargill said on Tuesday it plans to cut around 5% of its staff, or about 8,000 jobs after revenue slumped in its most recent fiscal year as crop prices hit multi-year lows.
Agricultural merchants including privately held Cargill are under pressure as prices of the commodity crops they trade, such as wheat, corn and soybeans, have dropped to near four-year lows and crop processing margins have shrunk.
Most of Cargill's job reductions would take place this year, the company's president and CEO, Brian Sikes...
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