Reuters' Ana Mano and Chris Prentice reported that Archer-Daniels-Midland (ADM) has initiated a fresh wave of job cuts in its grain trading and oilseed processing division, sources report. This follows the company's February announcement to eliminate up to 700 positions globally.
Sources indicate the cuts began at ADM's European headquarters in Switzerland. The grain trading division appears to be the focus, with employees, including experienced traders, concerned about potential targets.
ADM declined to specify locations or divisions affected by the current cuts.
