June 18, 2019 / 10:40 AM / 4 months ago

ADM to cut nearly 130 jobs in France at animal feed unit Neovia

PARIS, June 18 (Reuters) - Archer Daniels Midland Company plans to cut 127 staff at its recently acquired Neovia animal feed business in France to eradicate job duplication, a spokesman for the company said on Tuesday.

Chicago-based ADM took over Neovia for 1.54 billion euros ($1.73 billion) in February as part of the U.S. farm giant’s strategy to expand in the fast-growing animal nutrition sector.

Most of the job cuts will take place at the company’s former headquarters in Saint-Nolff in the northwestern region of Brittany, with some at its research lab in Chateau-Thierry, east of Paris, the spokesman said.

The plan was put forward to unions on Tuesday.

Excluding the non-replacement of people leaving and temporary contracts, 66 employees will be affected, he said. Job losses will be seen in human resources, finance, legal, communications and marketing.

Neovia, part of ADM’s Animal Nutrition branch, has a limited presence in North America but a large one in Europe, Southeast Asia, and Central and South America.

As of the end of last year, Neovia employed 8,360 people worldwide, of whom 1,070 were in France, making up the bulk of ADM Animal Nutrition’s global staff.

$1 = 0.8917 euros Reporting by Sybille de La Hamaide; Editing by Jan Harvey

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