All articles tagged with #cargill
Cargill, the largest private company in the U.S., is reducing its global workforce by 5%, affecting around 8,000 employees. Despite having a plant in Guntersville, Alabama, the company expects minimal impact on its operations in the state. Cargill emphasizes its commitment to supporting employees during this transition, aligning its workforce with strategic goals.
Cargill is laying off about 8,000 employees, or 5% of its global workforce, as part of a corporate restructuring aimed at improving competitiveness amid declining sales and profits. The layoffs, which include 475 jobs at its Minnetonka headquarters, are part of a broader strategy to streamline operations and cut costs following a significant drop in profits. The company is reorganizing its business units and reducing workforce layers to address market challenges and align with its 2030 plan.
Cargill, the world's largest agricultural commodities trader, is cutting 5% of its 164,000 workforce as part of a restructuring plan to improve profit margins amid declining revenues and crop prices. The company is consolidating its operations into three core divisions to enhance competitiveness. This decision follows a sharp drop in revenues and profits, influenced by ample global crop supplies and challenges in the beef sector due to drought conditions. Cargill aims to realign its resources to better align with its strategic goals.
Cargill Inc. is set to cut around 5% of its global workforce, equating to thousands of jobs, after failing to meet profit targets. The job reductions are part of the company's 2030 strategy and will affect senior leaders, though not the executive team. Cargill, the largest agricultural commodities trader, is the largest privately held company in the US.
Cargill, America's largest privately held company, dominates the Thanksgiving-industrial complex by supplying key ingredients for traditional Thanksgiving dishes, including gravy, cranberry sauce, dinner rolls, cornbread mix, and marshmallows. Cargill also manufactures vegetable oils, salt, sugar alternatives, and even vegetable wax for candles. As the third-largest turkey producer in the US, Cargill supplies one-third of the 40 million turkeys consumed on Thanksgiving. The company's turkey business is a significant part of its $28 billion annual sales in the North America protein division. Cargill's long history in the turkey industry positions it to potentially surpass its publicly traded competitors, Butterball and Jennie-O.
Forbes has released its annual list of America's Largest Private Companies for 2023, with Cargill retaining the top spot for the third consecutive year. SpaceX, led by Elon Musk, made its debut on the list at No. 145, thanks to its government contracts and estimated revenues of $4.6 billion. Other newcomers include Sazerac, the liquor company behind Fireball whiskey, and nine other companies. The top five companies on the list are Cargill, Koch Industries, Publix Supermarkets, Mars, and H-E-B, all of which are billionaire-owned. The list includes 258 companies, up from 246 last year, with a minimum revenue requirement of $2 billion.
Cargill, one of the world's largest ship charterers, has launched a chartered dry bulk ship fitted with special sails on its maiden voyage to study the potential of wind power in reducing emissions and energy usage in the shipping sector. The maritime industry, under pressure to decarbonize, is exploring various technologies, including wind-assisted propulsion, to move away from dirtier bunker fuel. Cargill hopes to recoup costs through fuel savings and aims to scale up the use of wind power if successful. The ship will sail from Singapore to Brazil and is likely to transport grain to Denmark, maximizing wind usage in the north Atlantic area.
Cargill, the top global agricultural commodity trader, will stop exporting Russian grain from July 1, while maintaining its other operations in the country. The decision may have been made under pressure from the Russian government. Cargill Russia plans to export 2.2 million tons of Russian grain this season before the self-imposed deadline. Uralchem has expressed interest in buying Cargill's Russian assets should it decide to leave the Russian market over the invasion of Ukraine.