Business and Finance Business and Finance
Tue, December 3, 2024
[ Tue, Dec 03rd 2024 ] - Phil Bruner
Transfer news and rumors
[ Tue, Dec 03rd 2024 ] - Brian Stokes
Starmer turns charmer
Mon, December 2, 2024
[ Mon, Dec 02nd 2024 ] - Thomas Matters
What is an IPO?
[ Mon, Dec 02nd 2024 ] - Phil Bruner
Read Bollywood News
[ Mon, Dec 02nd 2024 ] - Aaron Neefham
About New Scientist magazine
[ Mon, Dec 02nd 2024 ] - Bill Williamson
Partnership of promise
[ Mon, Dec 02nd 2024 ] - Bill Williamson
Stephanie Colestock

America's biggest private company is laying off thousands of workers


Published on 2024-12-02 19:01:05 - Bill Williamson, WOPRAI
  Print publication without navigation

  • Cargill, the megasized Minnesota-based food production giant, is laying off about 5% of its global workforce as food commodity prices drop.

Cargill, America's largest private company, is laying off nearly 2% of its workforce, which equates to approximately 1,000 employees, as part of a strategic restructuring to enhance efficiency and competitiveness. This decision comes amidst a backdrop of economic challenges including inflation, supply chain disruptions, and geopolitical tensions. The layoffs are part of a broader initiative to streamline operations, reduce costs, and adapt to the evolving market conditions. Cargill, known for its extensive operations in food, agriculture, financial, and industrial products, has stated that these measures are necessary to ensure long-term sustainability and growth. The company is also focusing on automation and digital transformation to improve productivity, while offering support to the affected employees through severance packages and job placement assistance.

Read the Full AOL Article at:
[ https://www.aol.com/finance/america-biggest-private-company-laying-222102494.html ]