Food supply chain company Cargill is cutting around 8,000 employees, approximately 5% of its global workforce, as part of a restructuring effort. The Minnesota-based company, which has over 160,000 employees worldwide and generates $160 billion in annual revenue, cited the need to “realign our talent and resources” to align with its strategy.
The move comes amid pressure on the food supply chain industry due to declining global food prices. According to Reuters, the average international price of foods dropped 20.5% from March 2022 levels in October 2024.
Cargill will eliminate around 475 employees from its office center in Wayzata, Minnesota, starting with notifications next month and first separations on February 5, 2025. The company assured that it will support affected employees, citing its commitment to “putting people first” during the transition.
Source: https://eu.usatoday.com/story/money/business/2024/12/03/cargill-layoffs/76734895007