Agribusiness giant Cargill is laying off thousands of its employees. Cargill confirmed this week that it would be reducing its global workforce by about 5%. In a statement sent to The Associated Press on Tuesday,

Cargill plans to cut 5% of its global workforce, which based on data in the US-headquartered agri-food giant’s annual report would amount to around 8,000 jobs. The world’s largest agricultural products company said the reductions were part of its “long-term strategy” introduced this year,