Agrium Inc. said during its Investor Day Nov. 6 that it plans to cut some 500 employees and find some $475 million in savings at the company by 2017. While Agrium is in the process of cutting some 500 jobs, it told Green Markets that much of that goal has already been met, via the sale of the Turf and Ornamental business and the discontinuation of the Advanced Technologies business unit. In addition, Agrium has already cut jobs in its Phosphate and Purchase for Resale businesses. [italicized revision – 11/06/14 11:50ET]
Agrium also said it will continue to sell underperforming or non-core businesses. Still to be rationalized this year is the company’s Direct Solutions business segment. Also included on this list to divest are micronutrients, the European UAN business, and the purchase for resale business.