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.
Article originally published on Minds.com which is a free & open source blog, however embeds may not be.
A Quick Note from Our Founder
Have you been curious about the Ketogenic Diet? You're not alone!
Going "Keto" has helped so many of our friends drop weight and keep it off.
And it's the perfect time to try it because right now you can get a free copy of a brand new cookbook called The Wicked Good Ketogenic Diet Cookbook
This cookbook is jampacked with 148 delicious ketogenic recipes that will help you burn fat like crazy. Even stubborn belly and thigh fat won't stand a chance because your body will have NO CHOICE but to burn that fat for fuel!
If you've struggled to get rid of stubborn fat, you owe it to yourself to test-drive the keto diet and see how effective it really is. It’ll be easy once you have this free cookbook…
HURRY, this FREE offer won’t last long!