BLAIR, NEBRASKA (2024 December 3, Tuesday)
Don Harrold, Writer / Editor
blairtoday@mail.com – Facebook
Cargill announced plans Monday to cut approximately 8,000 jobs worldwide, representing 5% of its global workforce. The impact on Blair operations has not yet been specified.
Chuck Miller, Senior Communications Manager at Cargill, confirmed the information via email today:
“For nearly 160 years, Cargill has been a critical connector of the global food system. Earlier this year, we set a long-term strategy that continues that legacy, while carrying forward the values and core strengths that have defined our success from the beginning. As we look to the future, we have laid out a clear plan to evolve and strengthen our portfolio to take advantage of compelling trends in front of us, maximize our competitiveness, and, above all, continue to deliver for our customers. As the world around us changes, we are committed to transforming even faster to deliver for our customers and fulfil our purpose of nourishing the world.
To strengthen Cargill’s impact, we must realign our talent and resources to align with our strategy. Unfortunately, that means reducing our global workforce by approximately 5 percent. This difficult decision was not made lightly. We will lean on our core value of putting people first as we support our colleagues during this transition.”
The Minnesota-based agricultural giant, which operates a significant corn milling facility in Blair, cited falling profits and commodity prices as driving factors. Company profits dropped to $2.48 billion in fiscal year 2024, down from $6.7 billion two years prior.
As mentioned in the email from Chuck Miller, “To strengthen Cargill’s impact, we must realign our talent and resources to align with our strategy,” the company said in a statement. “This difficult decision was not made lightly.”
The layoffs are part of a larger corporate restructuring that includes reducing business units from five to three. Most job cuts will occur before year-end, with terminations beginning in February 2025.
At the company’s Minnetonka headquarters, 475 positions will be eliminated. The company has not released specific numbers for other locations.
Cargill’s Blair facility, which produces corn syrup, ethanol and other corn-based products, is one of several major employers in Washington County. The plant has been operating in Blair since 1995.
The workforce reduction comes as agricultural commodity prices continue to fall. The World Bank projects a 5% decline in commodity prices for 2025, with additional decreases expected through 2026.
“The layoffs are part of a larger corporate restructuring that includes reducing business units from five to three. Most job cuts will occur before year-end, with terminations beginning in February 2024.”
Should this be February 2025?
Megan, good eye. I’ll take care of that now. Thank you!