Wednesday, January 11, 2012
Agribusiness giant Archer Daniels Midland Company will cut about 1,000 jobs globally, the company announced Wednesday.
A company press release said the 1,000 jobs - most of which are salaried positions - are a three percent reduction in the company's worldwide work force. The company said it will offer an early retirement incentive to U.S. employees, which it hopes will achieve most the necessary reductions.
ADM chairman and CEO Patricia Woertz said in a written statement the reductions are necessary in order for the company to remain profitable and globally competitive.
"To ensure that we can continue to compete effectively in our global markets, we are taking actions to streamline our organization and achieve significant, sustained cost reductions," Woertz said. "These actions will help us enhance our productivity and earnings power."
ADM, based in Decatur, Ill., employs about 30,000 people globally. The company operates everything from feed mills and ethanol plants to shipping barges. In Kansas, the company operates flour mills in Arkansas City as well as a dry fertilizer terminal in Hutchinson and liquid fertilizer terminals in Clay Center, Coffeyville, Conway and Dodge City.