Cargill announced the layoff of approximately 5% of its global workforce

This Monday, the American multinational corporation dedicated to agribusiness, Cargill announced the layoff of 5% of its global workforce which is part of a new strategy due to the fall in food prices.

Through a statement, the company with headquarters in Minnesota noted that “As we look to the future, we have established a clear plan to evolve and strengthen our portfoliotake advantage of the compelling trends in front of us, maximize our competitiveness and, above all, continue to serve our customers,” the company said.

According to the report presented this year by Cargill, The company has approximately 160,000 workersso it is estimated that the wave of layoffs covers nearly 8,000 jobs.

Although being one of the most important corporations in the agroindustrial sector, distributing raw materials such as: grains, meats, among others, worldwide.is being affected by the fall in prices, despite the fact that due to the geopolitical turmoil during the pandemic it benefited from high inflation.

However, in a report published in May it was learned that Cargill’s profits had fallen to $2.48 billion, Compared to the $6.7 billion dollars reported between 2021 and 2022, even for the company it is one of the steepest falls and the lowest profit since 2016.

Although Cargill reported on the wave of layoffs for the coming months due to changes and adjustments, in June of this year it had already announced that would open a production center in Atlanta where they estimate hiring at least 400 employees, including technicians, engineers and labor..

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