Cargill in plan to reduce global workforce by 1.5%
Dec. 5, 2011
by Josh Sosland
WAYZATA, MINN. — Cargill on Dec. 2 announced plans to reduce its global workforce by 2,000, equating to about 1.5% of its 138,000 employes worldwide.
The company said most of the cutbacks will be made over the next six months. Affected employees will be provided with severance and outplacement support in keeping with company policies as well as local laws and regulation.
Cargill said the move is being taken in response to “the continued weak global economy” and is part of a broader effort to reduce expenses and simplify work processes.
“As economic conditions change, so must we,” said Mike Fernandez, corporate vice-president of corporate affairs. “Regrettably, this impacts talented people who have made important contributions to our company. These are difficult decisions but are necessary to better position the company for continued growth.”
The company noted that cuts will be made based on recommendations from the company’s business units on how resources best should be allocated to best serve the company’s customers. Cargill added the reductions are not “the outcome of any companywide percentage mandate or uniform across-the-board cut.”