Monsanto to cut additional 1,000 jobs, bringing total planned job cuts to 3,600

Wed Jan 6, 2016 9:26am EST
 
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CHICAGO Jan 6 (Reuters) - Monsanto Co plans to cut an additional 1,000 employees worldwide, bringing its total planned job cuts to 3,600 or about 16 percent of the company's global workforce, according to a filing Wednesday with the federal Securities and Exchange Commission.

The company's board of directors has also approved the remainder of its previously announced plans to target $500 million of annual savings by the end of fiscal year 2018, according to the filing. The job cuts, which are just part of this plan, will vary from country to country, and are expected to continue through fiscal 2018, the company said. (Reporting By P.J. Huffstutter; Editing by Chizu Nomiyama)