ADM cuts 15% of corporate staff

An Archer Daniels Midland spokesman says it’s too soon to know how many St. Louis area employees will be affected by the company’s decision to eliminate one thousand white-collar jobs company wide.

David Weintraub tells KMOX they won’t know until they find out how many workers accept voluntary retirement, which is being offered to employees who are at least 57-years-old and have worked at ADM at least seven years.

The deadline for accepting the package is January 31st.

Officials say the move is being made to boost productivity and profits. The cuts amount to about 15 percent of ADM’s corporate staff.

ADM isn’t saying how many employees it has in St. Louis.

Source: CBC Local