WAYZATA, Minn. (FOX 9) - Minnesota-based food production company Cargill has announced it will reduce its global workforce by roughly 5% - cutting hundreds of jobs at its Wayzata headquarters in the process.
What we know
In a press release on Tuesday, Cargill said it is, "undergoing a business restructuring" that it began communicating with its employees this week, which will result in a reduction of 475 roles at its Wayzata Office Center located at 15407 McGinty Road West.
The first separation dates for employees will be on Feb. 5, 2025, the company says, and impacted employees will be eligible for severance packages. The terminations are expected to be permanent.
Cargill has more than 160,000 employees, according to its 2024 report, meaning an estimated 5% of its global workforce would be roughly 8,000 positions.
Background
Cargill is America’s largest privately held company, according to Forbes, and is also the world’s largest agricultural commodities trader.
The company remains a distributor of grains, meat and other farm products around the world.
The Source: A press release provided by Cargill.