Monsanto Cutting 1,000 Jobs as Chemical Giant Takes First Annual Loss in 6 Years
Monsanto Cutting 1,000 Jobs by Claire Bernish (links at bottom) St. Louis, MO — Agrichemical behemoth Monsanto plans to cut an additional 1,000 jobs to compensate, in part, for a slump in sales of its genetically-engineered corn seeds. The seeds led to a first quarter loss of $253 million — which, on the whole, represents a 17% drop in revenue. “Monsanto has struggled in recent quarters to deal with slumping corn prices in the U.S., which have reduced demand for its best-selling product: genetically-enhanced [read: modified] corn seeds,” reported ABC News. “Farmers are shifting more acres to other crops...
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