Cargill Responds To Report Of Restructuring, Layoffs
MINNEAPOLIS (WCCO) -- Minnesota-based Cargill has responded to reports that it plans to restructure, a move that Reuters says will include layoffs.
The report says that the company will also be closing offices in the restructuring.
Reuters said that Cargill declined to comment on their report -- at the same time saying "we typically don't comment on rumors" -- but said their findings were confirmed by one company source and four additional sources from within the industry.
A spokesperson from Cargill told WCCO that the report stems from the recent announcement that two executives are retiring soon: vice chairmen Paul Conway and Emery Koenig, the latter of which is also chief risk officer.
Cargill is a privately-held company currently based in Minnetonka, specializing in grain and agricultural commodities. The spokesperson told WCCO that Cargill would publicly announce a restructuring if one were in the works.
They have been in business for 150 years.
