ADM to Cut Jobs as Soft Oilseed Demand Hurts Results

Key TakeawaysArcher-Daniels-Midland missed fourth-quarter earnings and revenue estimates as oilseed demand weakened.The agriculture commodities giant saw its Crushing subsegment operating profit plunge 46% year-over-year.ADM plans to cut $500 million to$750 million in costs over the next three to five years, which includes laying off 600 to 700 workers in 2025. Archer-Daniels-Midland (ADM) shares lost ground Tuesday when the producer of agricultural commodities posted weaker-than-expected results and said ...