December 4, 2024
To strengthen Cargill’s impact, we must realign our talent and resources to align with our strategy. 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.
Global agriculture and food supply chain company, Cargill, announcing the layoffs of around 8,000 employees worldwide – equivalent to 5% of its workforce. Most of the layoffs will take place before the new year.
Why It Matters: The thousands of layoffs announced by Cargill, the largest private company in the United States, comes as the agriculture and food supply industries struggle with lowering prices of food commodities such as seed oils and grains. Additionally, the company’s revenue has been impacted by the rising cost of cattle due to drought affecting their pastures. And Cargill is not the only food supplier struggling with beef; Tyson Foods announced this week the closure of a beef and pork facility in the Midwest due to the drought.
Read More: Cargill lays off 5% of its workforce, with job cuts impacting thousands of employees globally (AP)
Cargill begins job cuts in drive to reduce headcount by 5% (Reuters)
Image Credit: Danny Johnston / The Associated Press
by Stephanie Wagner, based in Florida
