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ADM May Seek Early Retirements, Cut Jobs

Company says it's not selling grain handling business

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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.

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