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Cargill

Amid Layoffs, Cargill’s Owners Given $2B In Stock Buybacks/Dividends

January 19, 2025 Brooks Johnson, Portside. , , ,
As Cargill started laying off thousands of employees last month, the company’s owners made $2 billion from stock buybacks and one-time dividends, according to Fitch Ratings. The Minnetonka-based agribusiness announced in December it would lay off 5% of its global workforce, or about 8,000 people, as part of a broader restructuring to counter declining profits. About 475 headquarters jobs were eliminated in Minnesota. At the same time, the private company’s owners — almost entirely members of the billionaire Cargill-MacMillan family — received $500 million from a “special” dividend and a rare $1.5 billion share repurchase completed in December, according to a Fitch Ratings report issued this week.

The Truth About Cargill, The World’s Most Evil Company

November 3, 2022 Lee Camp, Mintpress News. , , ,
The biggest supervillains in the world are not human: they’re corporations. And one of those corporations owns nearly our entire food system. This year, food prices have soared and Americans are feeling it. For example, egg prices have doubled since last year to nearly $3 a dozen, which is especially difficult if you make your living as an egg-juggling busker down by the condemned jungle gym. But the supervillain companies that set those prices aren’t struggling at all. The largest one is Cargill. And this year, Cargill’s revenue jumped to a record $165 billion. That’s $30 billion more than the year before. Let’s learn a little more about Cargill. Known to friends as the evilest company in the world – and to enemies as even worse than that – Cargill Inc. is the biggest privately owned company in the U.S., and they own a large chunk of every portion of the food that ends up on your plate.

US High Court Sides With Corporate Giants Nestle And Cargill

June 18, 2021 Julia Conley, Common Dreams. , , ,
Human rights advocates Thursday denounced a Supreme Court decision in favor of the U.S. corporate giants Nestlé USA and Cargill, which were sued more than a decade ago by six men who say the two companies were complicit in child trafficking and profited when the men were enslaved on cocoa farms as children. The Supreme Court ruled 8-1 against the plaintiffs, saying they had not proven the companies' activities in the U.S. were sufficiently tied to the alleged child trafficking. The companies had argued that they could not be sued in the U.S. for activities that took place in West Africa. Neal Katyal, former acting solicitor general under the Obama administration, represented the two companies and also argued that they could not be sued for complicity in child trafficking because they are corporations, not individuals.