Farmland Industries cuts 103 manager jobs
Tuesday, June 18, 2002
KANSAS CITY, Mo. -- Farmland Industries, Inc. announced Monday that it had cut 103 administrative and management jobs to reduce costs in its court-supervised reorganization.
Farmland -- North America's largest farmer-owned cooperative -- filed for Chapter 11 bankruptcy protection May 31. Weak fertilizer sales led to a cash shortage at the Kansas City-based company, triggering payment pressures from its lenders.