Monsanto Tanking: Posts $495 Million Quarterly Loss and Plans to Eliminate 2,600 Jobs

Due to falling sales of its biotech seeds and herbicides, Monsanto has announced it will be cutting 2,600 jobs, setting up a plan to reduce their 22,500-employee workforce by about 12 percent over the next two years.

This is the first time the company has laid people off since 2009, when it cut 900 jobs.

The extreme measures are a result of a near half a billion dollar loss Monsanto suffered in its fiscal 4th quarter this year.  Shares in Monsanto stock have dropped 26% since the beginning of 2015.  The lay-offs and reorganization of the company will cost them roughly $850 million.

Monsanto is on its heels after a global awakening of the dangers of pouring toxins on food.  Countries across Europe, Asia and South America have banned glyphosate, the main ingredient in Monsanto’s Roundup herbicide.

In March of 2015, the World Health Organization rescheduled glyphosate as a Group 2A carcinogen, announcing that it probably causes cancer.


Articles by: Minds

Disclaimer: The contents of this article are of sole responsibility of the author(s). The Centre for Research on Globalization will not be responsible for any inaccurate or incorrect statement in this article. The Centre of Research on Globalization grants permission to cross-post Global Research articles on community internet sites as long the source and copyright are acknowledged together with a hyperlink to the original Global Research article. For publication of Global Research articles in print or other forms including commercial internet sites, contact: [email protected]obalresearch.ca

www.globalresearch.ca contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of "fair use" in an effort to advance a better understanding of political, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than "fair use" you must request permission from the copyright owner.

For media inquiries: [email protected]