Monday, September 15, 2025

Cargill to Cut 5% of Global Workforce as Profits Slump

Cargill Inc. plans to eliminate 5% of its global workforce of 164,000, or around 8,000 jobs, as the world’s largest agricultural commodities trader grapples with falling profits amid lower crop prices and a shrinking US cattle herd.

The job cuts at the privately held company come after profits fell to $2.48 billion in fiscal year 2024, less than half its record $6.7 billion in 2021-22 and the lowest since 2015-16.

CEO Brian Sikes said in an internal memo that most cuts will occur this year, focusing on streamlining organizational structure, expanding managers’ responsibilities, and reducing work duplication. The reductions won’t affect the executive team but will impact senior leadership positions.

The Minneapolis-based firm had already consolidated its business units from five to three after fewer than one-third met earnings targets in fiscal 2024. It previously eliminated about 200 tech positions.

Cargill, which became the third-largest US beef processor over the past decade, has been particularly squeezed by the smallest American cattle herd in 70 years. Industry rival Tyson Foods recently indicated no signs of herd rebuilding.

“We have laid out a clear plan to evolve and strengthen our portfolio,” Cargill said in a statement to Bloomberg, as major competitors Bunge Global SA and Archer-Daniels-Midland Co also face declining earnings amid abundant crops pushing down commodity prices.


Information for this story was found via Bloomberg, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Sports Site Deadspin Gutted After Sale to Mysterious Firm

Deadspin, the popular sports news and commentary website, has been sold again and its entire...

Tuesday, March 12, 2024, 04:52:00 PM

US Administration Slashes Education Department Workforce By Nearly 50%

The Trump administration has initiated a major workforce reduction at the Education Department that will...

Sunday, March 16, 2025, 11:27:00 AM

Canaccord Cuts 7% of Canadian Workforce

Canaccord Genuity (TSX: CF) has announced a significant workforce reduction in Canada, cutting approximately 75...

Monday, August 7, 2023, 02:19:00 PM

SkipTheDishes and Parent Company Cut 800 Canadian Jobs in Major Restructuring

SkipTheDishes and its parent company Just Eat Takeaway.com are laying off approximately 800 Canadian employees....

Wednesday, August 21, 2024, 11:07:50 AM

Amazon Preparing To Lay Off Another 9,000 Workers

Amazon is preparing to let go another 9,000 workers over the next several weeks, in...

Monday, March 20, 2023, 01:14:38 PM