Archer-Daniels-Midland (ADM) is cutting jobs this week in its grain trading and oilseed processing division, Reuters reported Wednesday, citing sources familiar with the matter.
The company had announced in February plans to eliminate up to 700 positions and cut costs by $500 million to $750 million over the next several years, but it is unclear if the current layoffs are part of that plan, Reuters said.
The latest reductions reportedly began at ADM's European headquarters in Switzerland and are expected to affect its agricultural services and oilseeds operations, which oversee global crop trading, transportation, and processing.
Experienced traders are concerned about further layoffs, while another said the nutrition division does not appear to be impacted in this round of cuts, Reuters quoted one source as saying.
Archer-Daniels-Midland did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。