Thursday, October 8, 2015

Monsanto laying off 2,600

Monsanto says it will lay off 2,600 employees because its sales are declining.

It has 22,500 employees, so the cuts that will take effect over the next two years will take out 12 per cent of its workforce.

The cuts will reduce costs by $275 to $300 million by 2017, the company says, but will cost between $850 and $900 million in severances and other benefits.