By Ana Mano and Gus Trompiz
By Ana Mano and Gus Trompiz
SAO PAULO/PARIS, Nov 27 (Reuters) – Louis Dreyfus Firm is making sweeping value cuts, beginning with journey, leisure, hiring and salaries, because the 168-year-old agricultural commodities agency tries to revive dwindling earnings.
World commerce tensions and the African Swine Fever epidemic in Asia have piled strain on grain buying and selling corporations as they attempt to emerge from a interval of falling margins. Household-owned LDC, referred to as Dreyfus, is the “D” of the ‘ABCD’ quartet of world merchants that additionally contains Archer Daniels Midland Co ADM.N, Bunge Ltd BG.N and Cargill Inc CARG.UL.
LDC stated an in an inner memo seen by Reuters that 5 senior executives would lead a evaluation to realize “value and productiveness beneficial properties”.
The group can also be introducing short-term “measures on journey and leisure, hiring and wage restrictions”, the memo, which was despatched to staff on Wednesday, stated.
A spokeswoman confirmed…