Agribusiness giant Cargill to lay off 2,000 employees
Agribusiness giant Cargill Inc., among the largest private companies in the country, plans to lay off 2,000 employees around the world as it deals with a "continued weak global economy," executives said.
The Minnesota-based firm -– whose dealings include livestock, grain, processed food ingredients and more -– said the cuts amount to about 1.5% of its workforce of 138,000 employees.
The layoffs, Cargill said, would largely take place over the next six months and would include severance and outplacement support for affected workers.
The move is also "part of an overall effort to reduce expenses and simplify work processes," said the company, which added that the cuts came after recommendations from various business units.
"As economic conditions change, so must we," said Mike Fernandez, vice president in charge of Cargill corporate affairs.
Cargill has facilities and operations around the world, including in California cities such as Fullerton, San Bernardino, Stockton and Los Angeles.
Last week, payroll company ADP said private-sector companies in the U.S. added 206,000 new employees last month -– nearly 100,000 more than in October. But the national unemployment rate is still high at 8.6%.
-- Tiffany Hsu
Photo: A man gathers bags of cocoa beans at the Cargill factory in San Pedro, Ivory Coast. Credit: Luc Gnago / Reuters