Monsanto Increases Workforce Cut to 16%, Sees 23% Drop in First-Quarter 2016 Sales
SUGAR LAND--January 7, 2016--Researched by Industrial Info Resources (Sugar Land, Texas)--Monsanto Company (NYSE:MON) (St. Louis, Missouri) plans to eliminate an additional 1,000 employee positions through 2018 as it drives to achieve annual savings of $500 million, the seed agrochemical and biotechnology company reported Wednesday. Sales for fiscal first-quarter 2016 fell nearly 23% to $2.22 billion from the same quarter a year earlier, and the company swung to a net loss of $253 million largely as a result of restructuring charges. Industrial Info is tracking 27 active Monsanto projects worth $1.27 billion including expansions, upgrades, closures and maintenance. Within this article: Details of revised restructuring plans by Monsanto. Additional companies: Jacobs Engineering Group (NYSE:JEC)
