ADM to Cut Jobs as Soft Oilseed Demand Hurts Results | Global News Avenue

Archer-Daniels-Midland (am) On Tuesday, when agricultural products producers released the results that exceeded the expected, and said that they would cancel employment opportunities to cut costs, because as concerned about the future of biofuels increased, this would be a work that reduced costs.

ADM reports the adjustment of the fourth quarter Earnings per share (EPS) The $ 1.14 income dropped by more than 6 % to $ 21.5 billion. Both have no visible alpha prediction.

Operating profit In the company’s AG service and oil division, it fell 32 % to $ 644 million. The company pointed out: “As the industry’s operating rate increases, the increase in manufacturing costs and the uncertainty of biofuel and trade policies, the operating rate of industries in North America has increased, and the uncertainty of biofuels and trade policies has reduced the compressed profit margin of implementation.” The operating profit of crushed sub -segments was reduced (46) %. ”

The operating profit in the field of carbohydrate solutions increased by 3 % to US $ 319 million. After the unit registered for operation last year, the nutritional field was positive for $ 88 million.

ADM will cancel 600 to 700 jobs this year

CEO Juan Luciano said the company faces “global market conditions and policy uncertainty by 2025” and will take measures to reduce measurement of 500 million to US $ 750 million in the next three to five years in the next three to five years. Essence To this end, ADM plans to cancel 600 to 700 positions in 2025.

Archer-Daniels-Midland’s stock has decreased by 4 % at a minimum level of transactions in more than four years.