Food production giant Cargill, which has operations throughout Indiana, announced it will lay off five percent of its global workforce before the end of the year.
That means of its 160,000 employees, roughly 8,000 of them could lose their jobs. The job losses will include 475 cut from the company’s Minnesota headquarters.
Cargill has grain elevators in Indianapolis, Tipton, Linden, and Milford. It also has a soybean processing plant in Lafayette.
It is unclear if any of those jobs are at risk. In a statement to WFIU News, the company said, “To strengthen Cargill’s impact, we must realign our talent and resources to align with our strategy. Unfortunately, that means reducing our global workforce by approximately 5 percent. This difficult decision was not made lightly.”
According to Bloomberg, Cargill’s profits fell 36 percent in its most recent fiscal year due to low commodity prices. This comes after a few record-breaking years during the pandemic.
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