Tags: cargill | layoff | jobs

Cargill Cuts 2,000 Jobs, Blames Weak Economy

Sunday, 04 Dec 2011 04:36 PM

 

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Agricultural trading giant Cargill Inc said it would let go of 2,000 of its employees globally, citing continued weak global economy.

The company said the workforce reductions were made on recommendations from various business units and was not a "uniform across-the-board" cut.

Cargill said the job cut, which affects about 1.5 percent of its workforce, will take place over the next six months.

On Nov. 30, market sources told Reuters that Cargill's unit, Cargill Ferrous International, was shutting down its physical steel trading desks in Hong Kong and Geneva.

Company spokeswoman Corinne Holtshausen had told Reuters that the Cargill was making internal structural changes, following a review of its global energy, transportation and metals operations.

© 2014 Thomson/Reuters. All rights reserved.

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