Cargill, Inc. issued a statement indicating a five percent reduction in worker and staff complement comprising 8,000 positions.  This action is in response to presumably declining earnings.  Since Cargill is a privately held company, it does not release financial data other than revenue that attained $160 billion for FY 2024, down from $177 for the previous fiscal year.  Cargill apparently has missed internal earnings goals and will accordingly restructure into three operating units to enhance profitability through 2030.

In a memo to employees, CEO of Cargill, Brian Sikes, stated that the downsizing will focus on “streamlining an organizational structure by removing layers, expanding the scope and responsibilities of managers and reducing duplication”.  He added, “Unfortunately, that means reducing our global workforce by approximately five percent.”