Key Takeaways Archer-Daniels-Midland missed fourth-quarter earnings and revenue estimates as oilseed demand weakened.The agriculture commodities giant saw its Crushing subsegment operating profit plunge 46% year-over-year.

The agriculture giant is planning cost cuts and eyeing potential consolidation and divestitures of up to $2 billion in assets.

Anywhere from 600 to 700 ADM employees around the world could lose their jobs this year as the company looks to cut costs. The company released Tuesday its financial results on Tuesday for the final quarter of 2024 and for 2024 as a whole.

Archer-Daniels-Midland Co. said it plans to lay off up to 700 employees around the world as it tries to save up to $750 million over the next three to five years. The Chicago-based food giant (NYSE: ADM) announced the layoffs when the company reported that both fourth-quarter earnings and revenues fell from a year earlier.