Biggest Private U.S. Company in Minnesota Laying Off Thousands

Would it surprise you to know that the largest private company in America is located just outside of Minneapolis, Minnesota?

Cargill is a food production giant and also the world's largest agricultural commodities trader. On Monday, they announced that they would be laying off approximately 5% of their global workforce, or around 8,000 people.

Apparently, easing inflation, and dropping grocery and crop prices may be playing a role in these global changes, as well as the number of U.S. cattle being down. Cargill has been working to be a major North American beef processor.

Get our free mobile app

Sources are indicating that Cargill's profits have fallen substantially from a 2020 to 2021 fiscal report noting profits during that period were $6.7 billion.

The latest information is that profits are at $2.48 billion or less than half of the 2020 to 2021 period.

MPR News is reporting about 475 Minnesota Cargill employees will be laid off this winter.

Sources: Yahoo Finance/CNN News, MPR, Wikipedia

10 Cool Things That Make Minnesota...Minnesota!

Minnesota is known for a lot of cool and interesting things. But I'll bet if you asked someone not from the state what they know about Minnesota they'd mention at least a few of these 10 Cool Things That Make Minnesota...Minnesota!