This is the Archer Daniels Midland (ADM) firm who recently announced 700 layoffs worldwide with the aim of reducing costs.
Archer Daniels Midland (ADM), one of the world’s largest agro -exporters, announced a cost reduction plan that includes the dismissal of 700 employees globally. The measure, which seeks to save between US $ 500 YU $ S750 million in the coming years, responds to the sharp fall in international prices of agricultural commodities and a 48% collapse in their profits for 2024.
While the company has not yet detailed how this adjustment will impact on each market, In Argentina uncertainty grows. Adm occupies a relevant place in the sector and is currently the ninth largest grain exporter in the country, with more than 3.95 million tons sent abroad in 2024. However, in recent years, its participation in grain trade has been reduced, passing from the third to ninth place in the ranking of exporters. With industrial plants in Santa Fe and in a context of growing costs and tight margins, any adjustment signal in the company generates concern.
The adm is not an isolated fact. The agro -export industry faces an increasingly complex scenario: soybeans, corn and wheat have fallen to minimums in four years due to an excess global supply, while operating costs – transport, logistics and supplies – are They keep high. This directly affects the profitability margins of the great cereal that operate in Argentina, a country where exporters already face a high tax burden and a volatile economic context.
An antecedent that reinforces alarms is the case of Cargill. In December last year, the multinational announced the 5% cut of its global staff, which meant the decoupling of approximately 8,000 employees worldwide. In Argentina, the company advanced with more than 600 layoffs, mainly in the administrative and hierarchical sector, as part of a cost reorganization in the face of the crisis in the sector.
Immediately, the local guilds are on alert and ask for more details from the local STIMS of ADM than for the moment they have not provided any information. At this time, it sounds strongly that once again hierarchical positions would be the most affections with the measure.
Source: Ambito
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