Archer Daniels Midland has announced hundreds of layoffs. The company said in a statement that it would cut between 600 and 700 jobs globally this year as part of a plan to achieve up to $750 million in cost savings over the next three to five years. It is not known how many jobs will be affected at its Decatur facility. The move, which follows job cuts at larger rival Cargill Inc., comes after a second straight year of profit declines as a rebound in grain inventories and mounting biofuel policy uncertainty weighed on prices.
***Courtesy of the Illinois Radio Network***
