EXCLUSIVE-ADM to make layoffs soon to cut costs, sources say

Reuters

02-01

EXCLUSIVE-ADM to make layoffs soon to cut costs, sources say

By Ana Mano

Jan 31 (Reuters) - Global grain merchant Archer-Daniels-Midland ADM.N will soon start laying off employees as part of a global effort to cut costs as low crop prices erode profits three people briefed on the matter told Reuters on Friday.

Operations in the United States would be the focus of the cuts, one source said.

(Reporting by Ana Mano in Sao Paulo and Chris Prentice in New York; Editing by Karl Plume, Simon Webb and Matthew Lewis)

((ana.mano@thomsonreuters.com ; Tel: +55-11-5644-7704; Mob: +55-119-4470-4529; Reuters Messaging: ana.mano.thomsonreuters.com@reuters.net))

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