Monday, August 26th, 2019

End Of Monsanto? As Profits Drop Thousands Of Employees Are Fired

Published on October 8, 2015 by   ·   No Comments

As Monsanto's profits drop, the corporation are forced to fire thousands of staff

Yournewswire

Monsanto are facing their biggest crisis yet, as over 2,600 jobs are to be cut amid a major decline in the corporations profits over the last year. 

Over 12% of Monsanto’s workforce will be axed, as the company reported a loss of 19 cents of its share price in the fiscal fourth quarter, and anticipate a further decline through 2016.

Bloomberg.com reports:

Like DuPont Co. and Glencore Plc, Monsanto, the world’s largest seed maker, is taking steps to combat the effects of a commodity slump that reduced farmer incomes for two straight years. Moves to trim expenses include re-prioritizing some research and development efforts and exiting the sugar-cane business to save as much as $300 million a year. Still, the company said it plans to meet its goal of doubling per-share earnings in five years from 2014.

“It seems surprising that they are still confident of reaching the 2019 goal given the environment they are facing for 2016,” Chris Shaw, a New York-based analyst at Monness Crespi Hardt & Co. who rates the shares neutral, said in a telephone interview.

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