Archer Daniels Midland To Lower 1,000 Jobs

Archer Daniels Midland Co ADM announced its plans to lower 1,000 jobs. Archer Daniels Midland will cut 3% of the company's work force, to reduce annual expenses by $100 million per year. Archer Daniels Midland shares gained 0.05% to $28.94 in after-hours trading.