Mosaic to cut 500 jobs in next 12 months
U.S. fertilizer producer Mosaic Co. will eliminate 500 jobs in the next 12 months, part of a plan to cut $500 million in costs over five years, Chief Executive Officer Jim Prokopanko said on Tuesday.
Prokopanko said on a conference call that the company will shed the jobs through layoffs, attrition, early retirement and elimination of contractors. The cost-cutting is aimed at bolstering Mosaic's status as a low-cost phosphate producer and improving its relatively high cost position in potash.
- Ag futures ended the week in decidedly mixed fashion
- Pinnacle Agriculture, Tecomate Wildlife form alliance
- Ag markets remained quite mixed at noon Friday
- California pays the price for Corn Belt’s cold snap
- Seed treatments strongly recommended for 2014 wheat crop
- Oregon GMO labeling measure certified for November ballot