Global trading house Cargill said on Tuesday it plans to cut around 5 percent of its staff, or about 8,000 jobs after revenue slumped in its most recent fiscal year as crop prices hit multi-year lows.
Agricultural merchants including privately held Cargill are under pressure as prices of the commodity crops they trade, such as wheat, corn, and soybeans, have dropped to near four-year lows and crop processing margins have shrunk.
