Archer Daniels Midland Company To Streamline Organization, Reduce Global Workforce By 3%

Archer Daniels Midland Company announced that it will streamline its organizational structure, reducing its global workforce to enhance the cost structure of the company. Approximately 1,000 positions, primarily salaried, will be eliminated, representing 3% of the Company’s total workforce worldwide. To help achieve this reduction, the Company will offer a voluntary early retirement incentive in the U.S. ADM expects that these actions, in concert with other targeted cost reductions, will, when fully implemented, reduce its annual pre tax expenses by more than $100 million.