This week, bio-agricultural company, Monsanto, said they will eliminate 1,000 more jobs as a cutting costs plan. The additional layoffs will bring the agriculture giant's total planned cuts to 3,600 jobs over the next two years, or about 16 percent of its global workforce. In October, the company first announced the restructuring plan, intended to streamline its sales, R&D and other operations.
It is crazy how much unemployment is going on, especially since the U.S is one of the most successful countries ever. The St. Louis-based company says the restructuring will cost between $1.1 billion and $1.2 billion to implement, up from previous estimates of $850 million to $900 million. By the end of fiscal 2018, the company expects the changes to generate annual savings of $500 million. So keep those families in prayer as they navigate finding new jobs.
Written by Billy Coles
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