From Yahoo Finance: 2025-03-25 18:09:00

U.S. grains merchant Archer-Daniels-Midland is cutting jobs in its grain trading and oilseed processing division, following a plan to reduce costs by $500 million to $750 million over the next few years. The cuts represent about 1.7% of the global workforce, with specific targets set by the CFO.

The new wave of cuts began at ADM’s European headquarters, raising concerns among employees in the agricultural services and oilseeds business. The focus seems to be on the grain trading, transportation, storage, and oilseed processing operations, rather than the nutrition unit. Each region where ADM operates has specific cost-cutting targets.

ADM’s CFO Monish Patolawala, appointed in July, oversees the cost-cutting efforts amid ongoing U.S. investigations related to accounting irregularities. The company aims to remain globally competitive by restructuring its cost base. The exact number of job cuts this week is unconfirmed.



Read more at Yahoo Finance: Exclusive-ADM cuts jobs in grain trading division, sources say