CEO: Archer Daniels Midland to cut 1,000 jobs

Jan 11
2012

ST. LOUIS (AP) — Agribusiness conglomerate Archer Daniels Midland Co. announced plans Wednesday to cut 1,000 jobs, or about 3 percent of its total workforce, with the majority of the positions being salaried staff.
The move will cut about 15 percent of the Decatur, Ill.-based company’s corporate staff, CEO Patricia Woertz said in statement.
Archer Daniels Midland reported $2.03 billion in profits for the last fiscal year alone, but a volatile global market for crops has made for unpredictable revenue. Read more on NewsOK.com

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