This thing has been part of broader plan since early this year. As last fiscal year ended every one on ET panicked and brought in the consultants. Started with freezing hiring, clamp down T&E… the usual CYA moves.
That was not enough…. Pushed leadership teams for an additional 15% reduction…. That was not enough.
Reduction through attrition all along while all the work remained unchanged.
Layoff was to happen in September….. consultant ppt too optimistic and Cargill HR has the speed of a sloth.
Merry Christmas everyone- you have been laid off !
Next year cost down 2.5B