Ag industry | St. Louis Public Radio

Ag industry

Monsanto announced Wednesday it would shed 2,600 employees in the next 18 to 24 months as the company deals with declining seed sales.

The seed giant reported a $495 million loss, or about $1.06 per share, for its fiscal fourth quarter.

It’s not clear how many jobs will be affected at its Creve Coeur-based headquarters. The cuts represent about 12 percent of Monsanto’s workforce, and spokeswoman Sara Miller said they will take place globally across all functions.

This article originally appeared in the St. Louis Beacon: St. Louis has become a hub for agricultural sciences and commercialization but still lags in capital formation. That was the sentiment expressed by attendees at the Ag Innovation Showcase held at the Donald Danforth Plant Science Center this week during a series of breakfast interviews by the Beacon.