Archers Daniels Midland (ADM) announced a 3 percent reduction in the company’s total workforce today. According to a news release, 1,000 jobs, primarily salaried positions, will be eliminated. It is unclear if the Clinton facility will be affected by this reduction.
The move to “streamline” the organizational structure is an effort to enhance the company’s cost structure. It is expected that these actions, “in concert with other targeted cost reductions,” will reduce ADM’s expenses by more than $100 million, according to the statement.
“To ensure that we can continue to compete effectively in our global markets, we are taking actions to streamline our organization and achieve significant, sustained cost reductions,” Patricia Woertz, ADM chairman and chief executive officer, said in a statement. “These actions will help us enhance our productivity and earnings power.”
Inquiries about the decision’s impact on Clinton have been sent to ADM media relations. Check clintonherald.com for more information as it becomes available.