Reported about 7 hours ago
Archer-Daniels-Midland Co. (ADM) has announced plans to cut 600 to 700 jobs worldwide as it anticipates a third consecutive year of profit declines. This decision aims to drive $750 million in cost savings amidst challenging market conditions and ongoing financial issues, including an accounting investigation that has significantly affected its market value. The company projects adjusted earnings for 2025 to be lower than previous estimates, reflecting struggles with grain inventory levels impacting prices.
Source: YAHOO