ADM Layoffs Upend Trader’s Global Commodity Desk in Switzerland

Archer-Daniels-Midland Co. is cutting jobs at its global commodity desk after a probe into its accounting practices wiped out billions from the agriculture giant’s value, according to people familiar with the matter.

At least eight traders based in Rolle, Switzerland, have been let go in recent rounds of layoffs, said the people, who asked not to be named because the information is private. These include managers responsible for buying and selling grains, vegetable oils and freight.