Archer Daniels Midland

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Global
Sector
Manufacturing
Manufacture Of Food And Beverage
Manufacture Of Food Products
10 - Manufacture of food products
1,000 jobs
Number of planned job losses
Job loss
Announcement Date
11 January 2012
Employment effect (start)
11 January 2012
Foreseen end date

Description

USA headquartered agribusiness and food processing firm Archer Daniels Midland will cut 1000 workers globally as a result of increased commodities prices.

The company will offer voluntary early retirement to US workers before progressing to a redundancy programme. It is therefore not yet clear how many workers outside the US will be affected. EU locations for Archer Daniels Midland include the Czech Republic, France, Germany, Ireland, the Netherlands and the UK.

The cuts will be made among the firm's corporate staff, which will be reduced by 15 per cent.

Sources

  • 11 January 2012: The Financial Times
  • 11 January 2012: Huffington Post

Citation

Eurofound (2012), Archer Daniels Midland, Internal restructuring in World, factsheet number 72954, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72954.