Agribusiness powerhouse Cargill has confirmed plans to reduce its global workforce by approximately 5%, impacting around 8,000 employees worldwide. The Minnesota-based company, which boasts a workforce of over 160,000 individuals across 70 countries, cited a long-term strategy aimed at strengthening its impact as the rationale behind the layoffs.
While specific details regarding the job cuts were not immediately disclosed, Cargill emphasized that the decision was part of a broader effort to realign resources and adapt to evolving market conditions. The company's annual revenue, which stood at $160 billion in 2024, has experienced a decline from the previous year's $177 billion, reflecting ongoing challenges in the agricultural sector.
