Cargill to Cut Thousands of Jobs Globally as Profits Shrink
- Largest private US firm will slash about 5% of workforce
- Most cuts will be made this year, CEO says in internal memo
A Cargill beef plant in Alberta, Canada.
Photographer: Alex Ramadan/BloombergThis article is for subscribers only.
Cargill Inc. is cutting thousands of jobs globally after the largest privately held company in the US missed profit targets.
The Minneapolis-based firm, the world’s largest agricultural commodities trader, will cut about 5% of its 164,000-strong workforce as part of its 2030 strategy, according to an internal memo seen by Bloomberg. The reductions won’t affect its executive team, but will impact a number of next level senior leaders, according to people familiar with the matter, who asked not to be identified discussing internal matters.