CEO: Archer Daniels Midland To Cut 1,000 Jobs

By David Mercer and Christopher Leonard

DECATUR, Ill. (AP) -- Agribusiness conglomerate Archer Daniels Midland Co. announced plans Wednesday to cut 1,000 mostly salaried jobs as it navigates volatile global crops markets.

The move will cut 15 percent of the Decatur-based company's corporate staff, about 3 percent of its total workforce, CEO Patricia Woertz said in statement.