Cargill Plans To Lay Off Around 5% Of Its Global Workforce

Cargill has over 160,000 employees and an estimated 8,000 will be impacted.

Cargill announced plans to lay off around 5% of its global workforce.

The Minnesota-based food production giant is America’s largest privately held company. It is also the world’s largest agriculture commodities trader.

The company is the middleman that distributes grains, meat and other farm products globally.

As food prices drop, profits have dropped by billions.

The company said the upcoming changes are part of “a long-term strategy” put in motion earlier this year.

Cargill has over 160,000 employees and an estimated 8,000 will be impacted.