Daily Recession covers the world as it goes into recession. The financial crisis, stock market crash, bankruptcies, job cuts, and the turmoil that follows.

Archer Daniels Midland Co cuts 335 jobs

Posted: February 22nd, 2012 | Author: | Filed under: By Location, USA | Tags: , , , | No Comments »

Archer Daniels Midland Co. (ADM) said it has cut 335 jobs in Decatur, Illinois.

Out Of the 335 jobs cut in Decatur, where ADM is headquartered, 160 employees accepted an early retirement package, while 175 were laid off.

The cuts are part of a broader plan the grain trader and processor announced in January to cut about 1,000 jobs, or 3% of the company’s workforce. The total cuts will end up exceeding 1,200, including separate cuts announced recently related to ADM’s closure of a small North Dakota ethanol plant and its ending of a bioplastics joint venture in Iowa.

From Fox Business

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