ND Braces For Impact: Large Private Co. To Fire 5% Of Workforce

Cargill, the largest private company in the United States is set to let go of 5% of its total workforce.

According to the AP, the Minnesota-based company, with two plants in North Dakota, will cut 5% of its employees worldwide.  Eight thousand people are expected to lose their jobs. Merry Christmas right?

The Cargill locations in North Dakota are located in West Fargo, which is a canola crushing plant, and a grain elevator in Wahpeton.

The West Fargo plant employs approximately 230 employees and 125 in Wahpeton. Worldwide, more than 160,000 people are employed by Cargill.

At the time of this article, it's not known how many North Dakota employees will be affected, as the company has not disclosed this information yet.

Cargill is a global supply chain company with over 160,000 employees in 70 countries.

 The company is responsible for 25% of all grain exports in the United States.

Why is the company letting its employees go?

Cargill, which is a major grain merchant and United States beef processor is looking at downturns in returns in cattle, grains, and oilseeds businesses. It's also believed that higher food prices have added pressure on food giants like Cargill.

The reduction in force is part of a long-term strategy "to strengthen Cargill's impact", according to the Associated Press.

It's never easy to lose a job, especially around the holidays. Our thoughts are with the employees who call North Dakota home who may be affected by Cargill's decision. The company did say their employees will be eligible for severance packages.