Cargill, a major agribusiness firm, is reducing its global workforce by 5%, impacting around 8,000 employees, due to a significant profit decline and changing agricultural trends. With a reported annual revenue of $160 billion in 2024, marking nearly a 10% drop from the previous year, Cargill aims to streamline operations after less than a third of its businesses met earnings targets. The company has also faced challenges in its meat processing and crop sectors amid a broader economic downturn, leading to previous layoffs and facility sales.

Source: https://www.supplychaindive.com/news/cargill-layoffs-profit-decline-restructuring/734568/