So they've had all of upper management and senior positions sign NDAs to mak sure nothing gets leaked on their re-org and the selling off of some of their smaller business units. They're "going back to their roots" to try and regain their market share.
Most high earners are being let go with large severances that cover the year, unless they get hired, then the severance goes to 50%. But that's only if you tell them you got a new position during your unemployed time, which doesn't make sense.
Another weird thing is that most employees with 20+ years are being let go. Probably due to pay? Seems weird to let go of the ones that have the most knowledge.
14 replies (most recent on top)
Without getting into too many details anyone have any indication of what the new structure looks like? Any functions disappearing completely? Or more of a somewhat consistent haircut across all areas?
It is real, that is for sure...My guess is that not too many people signed it..otherwise information would leak
The NDAs are real. I’ve confirmed it with 2 separate individuals. I’m not sure how many people signed one though. One made a comment that it will be “huge”.
What about MSC structure?
Some senior people informed yesterday. Wonder when those announcements will come out.
Does not appear the CCNA is on the chopping block.
Is Cocoa and Chocolate NA on the chopping block? They are/were unprofitable after the ADM acquisition. They hired Mckinsey to manage their "turnaround" a few years back.
20K employees across all areas, after shuffle and selling off low earning orgs like metals and alternative materials. High earners were part of the re-structure.
Also, no one cares about signing an NDA. I'm going to tell the people I trust that I had to sign one, to show them what Cargill is doing. I just won't go into too many details that could lead back to me.
Well, they’re using MKC to do this, present te-org has just shuffled the deck of the same people that were at the head of the ship that got us into this mess.
Dearest DMac as he built out his “legacy” and bloated Cargill without stopping is a bigger issue too.
Here’s to this all happening again in 5 years…
The NDA also says they can’t say they signed an NDA
It's amateur hour, they don't understand the damage they're doing (yet). The pain will come later. They're dumping what made them great and replacing offshore. Good luck.
Do you mean 2k employees vs 20k? That would be around $200k in salary which makes sense if they are targeting high earners.
It just goes to show how deeply intertwined the core value of put people first is with the cargill ethos. Not.
Mckinsey & Co is the Consulting firm involved. Their goal is to reduce Cargill operation costs by $400 million this year. Equals reducing the workforce by 20,000 employees this year. Also asking higher earners to take a lower pay band and forgo bonuses, exec pay, etc. Taking a lower pay band means you still do the same job, but for less, and possibly more functions to take over from the employees that were let go. Really interesting where Cargill is going with this.