Cargill to Lay Off 5% of Workforce in Global Restructuring

The largest privately held company in the United States, Cargill, has announced a global workforce reduction. The Minnesota-based agribusiness giant plans to lay off 5% of its employees worldwide, equating to thousands of job losses. Cargill, which employs over 160,000 people globally, plays a vital role in distributing meat, grain, and other agricultural products across international markets. The company experienced significant profit growth during the pandemic and the inflationary period that followed. However, recent declines in grocery prices and a reduced U.S. cattle supply have put pressure on its bottom line. According to Cargill, these workforce changes align with a long-term strategy implemented earlier this year. While the decision impacts employees globally, the company emphasized its commitment to navigating the challenges of shifting market conditions while continuing to support its mission of nourishing the world. The announcement signals a shift for the agribusiness sector as companies adjust to post-pandemic market realities and changing consumer demands.