US Cargill set to eliminate 5% of workforce as part of strategic effort to strengthen portfolio

HOUSTON (ICIS)–US Cargill announced that as part of a strategic effort introduced earlier this year designed to strengthen the almost 160-year-old company that the agribusiness major will be reducing their global workforce by approximately 5%.

The process and timeline for this to be implemented was not revealed but the company said it will be different under the circumstance as it must comply with employment laws and practices in each geography.

Yet with an estimated nearly 8,000 jobs set to be eliminated, Cargill acknowledges it was not an easy choice to make this move, and said this new long-term strategy not only continues their legacy but carries forward values and core strengths that have defined their success.

“As we look to the future, we have laid out a clear plan to evolve and strengthen our portfolio to take advantage of compelling trends in front of us, maximize our competitiveness, and, above all, continue to deliver for our customers,” said a Cargill in a statement.

The company said as the world is changing it remains committed to transforming even faster to deliver for customers and fulfil the purpose of nourishing the world.

“To strengthen Cargill’s impact, we must realign our talent and resources to align with our strategy. Unfortunately, that means reducing our global workforce by approximately 5%. This 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,” Cargill said.

Operating in 70 countries with approximately 1,000 locations worldwide Cargill handles not only food products and ingredients from the start of the supply chain with farmers all the way to the final consumer. They also undertake agricultural solutions including fertilizers and industrial products.