LONDON - Cargill Inc , one of the world's largest privately held corporations and a top commodities trader, has launched a restructuring that includes layoffs, one company source and four industry sources said on Friday.
The company is also closing offices, two of the industry sources said.
The cutbacks at the Minnesota-based company come as global agricultural companies are under pressure from slumping commodity prices and weakness in emerging markets, where Cargill has made significant investments.
Cargill is "working on recalibrating their business," one of the sources, a banker, said.
Cargill declined to comment on the report, saying "we typically don’t comment on rumors."
