Monsanto to Cut 900 Jobs

Monsanto will cut 900 jobs across the firm, or 4% of its workforce, citing an 14% drop in quarterly earnings fueled by losses to Chinese rivals producing generic versions of its herbicides.

The company’s herbicide and agricultural nutrients units are being reorganized under a single executive.

Founded in 1901, St. Louis, Missouri-based Monsanto is a multinational agricultural biotechnology corporation. It is the world’s leading producer of the herbicide glyphosate, marketed as “Roundup.” Monsanto is also the leading producer of genetically engineered seeds, holding 70% to 100% market share for various crops.