ZURICH, Switzerland (Reuters) — Syngenta is cutting slightly more than 10 per cent of its workforce at its Swiss headquarters in Basel, following a big downturn in its crop protection business this year.
Up to 150 of the 1,100 positions in the city will be affected at the Chinese-owned company, which employs 60,000 people globally.
Syngenta said job cuts were underway in other markets “to strengthen the competitiveness of the company.”
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The losses come after Syngenta reported a 17 per cent drop in sales in the first six months of 2024. Core operating profit slumped by 36 per cent.
The company has been hit by lower demand from farmers, who built up large inventories of seeds and pesticides after the pandemic.
