ADM to stop domestic trading in China, cut jobs in Shanghai

ADM to stop domestic trading in China, cut jobs in Shanghai

ADM Quits China Domestic Crop Trading, Adding to Global Job Cuts

Archer-Daniels-Midland Co., one of the world’s largest crop traders, is shrinking its operations in China as part of a company-wide restructuring effort following a downturn in profits and a bruising accounting scandal.

ADM cuts jobs and shuts down China trading operations amid profit declines – Reuters

ADM has initiated the closure of its domestic trading operations in China, resulting in significant layoffs within its two largest business segment, Ag Services and Oilseeds.

On Monday (April 14), global grain trader ADM said in an email statement that as part of a global cost-cutting initiative, the company has begun to close its domestic trade business in China and lay off employees in Shanghai.