Dupont Employees Pay Price for Monsanto’s Growth in Seed Sales
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DuPont Co.’s Pioneer seed unit took it on the chin from Monsanto Co. this year, and now salaried employees are taking a hit in the wallet.
DuPont is cutting 2014 bonuses and delaying 2015 salary increases until July 1, according to an internal memo distributed Tuesday, a copy of which was obtained by Bloomberg News. The company saved $175 million from reduced bonuses, with half the reduction coming at the expense of agriculture unit employees, DuPont said in a presentation this week.