{"id":133035,"date":"2024-12-04T01:32:48","date_gmt":"2024-12-03T18:32:48","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=133035"},"modified":"2024-12-04T01:32:48","modified_gmt":"2024-12-03T18:32:48","slug":"cargill-laying-off-about-8000-people-5-of-global-workforce","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=133035","title":{"rendered":"Cargill laying off about 8,000 people, 5% of global workforce"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<div class=\"rt-Box w-full\">\n<p class=\"rt-Text\">Cargill is cutting 5% of its global workforce \u2014 about 8,000 jobs \u2014 as the commodities giant grapples with the comedown from a few record-breaking years during the pandemic.<\/p>\n<\/div>\n<\/div>\n<div>\n<div class=\"rt-Box w-full\">\n<p class=\"rt-Text\">The nation\u2019s largest privately held company is already undergoing a corporate restructuring announced earlier this year after annual profits fell to their lowest level in nearly a decade. Cargill is looking to buoy its margins and \u201cmaximize [its] competitiveness\u201d by cutting costs as part of a 2030 plan.<\/p>\n<\/div>\n<\/div>\n<div>\n<div class=\"rt-Box w-full\">\n<p class=\"rt-Text\">\u201cTo strengthen Cargill\u2019s impact, we must realign our talent and resources to align with our strategy. Unfortunately, that means reducing our global workforce by approximately 5%,\u201d the company said in a statement. \u201cThis difficult decision was not made lightly. We will lean on our core value of putting people first as we support our colleagues during this transition.\u201d<\/p>\n<\/div>\n<\/div>\n<div>\n<div class=\"rt-Box w-full\">\n<p class=\"rt-Text\">Layoffs will occur across the company\u2019s global footprint and at all levels. Cargill will cut about 475 in-person and remote jobs at the company\u2019s Minnetonka headquarters. The company will notify affected workers this week with terminations beginning in February, according to a state filing.<\/p>\n<\/div>\n<\/div>\n<div>\n<div class=\"rt-Box w-full\">\n<p class=\"rt-Text\">Cargill will announce most job cuts before the end of the year, said CEO Brian Sikes in an internal memo Reuters obtained Monday.<\/p>\n<\/div>\n<\/div>\n<div>\n<div class=\"rt-Box w-full\">\n<p class=\"rt-Text\">\u201cThey\u2019ll focus on streamlining our organizational structure by removing layers, expanding the scope and responsibilities of our managers and reducing duplication of work,\u201d Sikes wrote.<\/p>\n<\/div>\n<\/div>\n<div>\n<div class=\"rt-Box w-full\">\n<p class=\"rt-Text\">Cargill\u2019s profits fell 36% to $2.5 billion in the most recent fiscal year, according to Bloomberg. That follows a record-setting $6.7 billion haul two years ago as the trading house capitalized on high commodity prices.<\/p>\n<\/div>\n<\/div>\n<div>\n<div class=\"rt-Box w-full\">\n<p class=\"rt-Text\">Grain prices have since dropped markedly. Fellow ag companies like CHS and ADM have also reported higher costs to move and process food, denting profits.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.startribune.com\/cargill-layoffs-8000-5-percent-global-workforce-minnesota-ag-trader-minnetonka-hq\/601190081\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cargill is cutting 5% of its global workforce \u2014 about 8,000 jobs \u2014 as the commodities giant grapples with the comedown from a few record-breaking years during the pandemic. The &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=133035\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-133035","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/133035","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=133035"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/133035\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=133035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=133035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=133035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}