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Swiss Glencore to cut down output and jobs. 'These are necessary actions we have to take' says CEO

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Unions and NGOs have condemned the company's plans to slash production and eliminate jobs.
Glencore, a major commodities trader, is planning to reduce its production and workforce in response to challenging market conditions, as announced by CEO Gary Nagle. The company is facing a downturn in demand for certain commodities, prompting the need for tough decisions to maintain profitability. Nagle emphasized that these measures are essential for the long-term sustainability of the business, despite the immediate impact on employees and output. The specific details regarding the extent of job cuts and production reductions were not disclosed, but the moves are part of a broader strategy to adapt to the evolving global economic landscape.

Read the Full Fortune Article at:
[ https://fortune.com/europe/2025/05/29/glencore-cut-down-output-jobs-tough-decisions-ceo-gary-nagle/ ]