Cargill Restructures Business Amidst Missed Profit Targets
Company Aims to Streamline Operations after Disappointing Earnings
Nearly Two-Thirds of Cargill's Businesses Fell Short of Goals
Cargill, a global agricultural trading giant, is undergoing a significant restructuring of its business operations after missing internal earnings targets for the first time in its history.
According to sources familiar with the matter, less than a third of Cargill's businesses achieved their earnings goals in fiscal 2024. This setback has prompted the company to implement structural changes, including streamlining operations and closing some offices.
Cargill's revenue also took a hit in its most recent fiscal year, declining by nearly 10%. The company attributed this decrease to ample crop supplies and volatile market conditions, which pressured its commodities trading business.
The restructuring comes as Cargill faces increasing competition from other agricultural traders, as well as the rise of new technologies that are disrupting the industry. The company hopes that by streamlining its operations and focusing on core businesses, it can improve efficiency and profitability.
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