Archer Daniels Midland Co. said on Wednesday it will seek voluntary early retirements by some North American employees and may eliminate individual jobs as part of a restructuring of specific areas reports Reuters.
The actions are needed to strengthen ADM’s core business and establish the company as a global leader in nutrition, the company said in a statement.
In response to questions from Reuters, company spokeswoman Jackie Anderson declined to say how many employees were being targeted for retirement.
“Contrary to rumors, we are not considering a sale of our grain handling business,” she said.
