CHICAGO — Archer Daniels Midland Co. on April 10 notified its employees that between now and June 30 the company plans to take “a range of actions” to strengthen the core of its business.
Jackie Anderson, a spokesperson for ADM, said the actions will be geared toward enhancing the company’s organizational agility, maximizing productivity, strengthening service to internal and external customers, and accelerating growth.
“One of these actions will be the opening of a voluntary early retirement window for certain eligible U.S. and Canadian colleagues,” Ms. Anderson said. “Others include capturing planned synergies from our recent acquisitions and realigning our organization worldwide as we further streamline and standardize processes, implement new technologies, and eliminate overlap in roles and responsibilities.
“Beyond the planned post-acquisition synergies, there may be some individual positions eliminated as part of the restructuring of specific areas of our organization. As much as possible, we will try to minimize individual impacts by finding suitable alternative opportunities within the company. “
Ms. Anderson said the actions are necessary to strengthen the core of ADM’s business and establish the company as a global leader in nutrition.
“As always, our priority throughout the process will be the respect and care of all employees impacted by these changes,” she said.
ADM in late March said “extreme winter weather” affected first-quarter North American operations more than normal. The extreme weather reduced corn processing volumes principally due to a slowdown in rail and truck transportation, which affected both inbound and outbound shipments, the company said. ADM said the severe weather disruptions are expected to have a negative pre-tax operating profit impact to ADM of $50 million to $60 million for the first quarter. ADM is scheduled to report its first-quarter earnings on April 26.
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