Monsanto reports Q4 loss, to slash 2,600 jobs
Investing.com
Published Oct 07, 2015 10:31AM ET
Investing.com - Monsanto (NYSE:MON), one of the world's largest seed and agrichemical companies, said on Wednesday that it was slashing 2,600 jobs and restructuring operations to cut costs in a slumping commodity market that it expects to squeeze results well into 2016.
Monsanto, which also reported a much wider quarterly loss, said that along with the layoffs, its global restructuring would include "streamlining and reprioritizing" some commercial and research and development work, including an exit from the sugar cane business.
Its loss widened to $1.06 a share for the fourth quarter, ended on August 31, from a loss of 31 cents a year earlier.
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Written By: Investing.com
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