Monsanto to slash 1,000 more jobs, total planned cuts at 3,600

Monsanto plans to cut another 1,000 jobs worldwide, bringing total planned cuts to 3,600, about 16 per cent of its workforce, according to a filing with the US Securities and Exchange Commission.

The additional staffing cuts, along with site closures and contract terminations is expected to increase a restructuring charge to a range of about $1.1 billion to $1.2 billion, from $850 million to $900 million, the company said.

Monsanto chief executive Hugh Grant said the seed company's engagement with Swiss rival Syngenta about a possible merger had been "difficult", with little progress achieved.

Monsanto reported a quarterly loss of $253 million, or 56 US cents per share in the three months to November 30th, compared with a profit of $243 million a year earlier.

– (Reuters/Bloomberg)