Cargill Inc, one of the largest private corporations in the world, has begun restructuring, involving job cuts, as a result of the downtrend in agricultural Economics.

150-year-old company, a leading commodity trader, has also closed down the mission, said industry sources.

Based in Minnesota, the company carries out the reduction as a global agricultural company, under pressure from sharply falling commodity prices, slowing demand in China and weakness in emerging markets, where Cargill has a significant investment.

Cargill can cut 4,000 jobs, representing 2.5% of the employees.

The company continues to work on the revaluation of business, the sources said.

The Cargill representative initially refused to comment, saying the company does not comment on rumors, but later added that he heard nothing about the layoffs or the closure of offices.

Cargill is one of the four companies "ABCD", which dominate the flow of agricultural products around the world, competing with Archer Daniels Midland Co, Bunge Ltd and Louis Dreyfus Corp.

Recently, the company faced new competition from trading houses in Asia.

It seems that the company is trying to adapt, to lighten the load and be faster, said one U.S. grain trader, who works with Cargill.

The management has already taken steps to change the company. For the past six months, Cargill sold his business in the U.S. pig to Brazilian meat processor JBS SA for $1.45 billion and paid approximately $1.5 billion for the purchase of the Norwegian manufacturer of fish feed Ewos.

Other agricultural companies are cutting jobs and spend consolidation to save money. Last month the company Monsanto Co, which produces the largest seeds company in the world, reported a decrease of 2,600 jobs and restructuring of enterprises.

Company Deere & Co, the largest manufacturer of agricultural equipment, has also cut jobs.

Last month, Cargill reported a 20% rise in profit in the first financial quarter ended 31 August, after losing profit in the fourth quarter, which the company partly explains the slowing economy in emerging markets.

The last significant restructuring of Cargill conducted about 15 years ago, it was focused on changing staff positions in accordance with the product lines rather than geographic locations.

Last week Cargill announced the retirement of two Vice-presidents, having total work experience of the company in 74 years.

Source: Thomson Reuters