Monsanto Co. executives said the company is still committed to its St. Louis locations, including expansion at its research facility in Chesterfield. This came after the company announced it was cutting about 2,600 jobs over the next two years.
Monsanto had more than 5,400 employees in the St. Louis area as of June 30. This makes up almost a quarter of the Creve Coeur-based company’s global workforce. Monsanto has not said whether job cuts will affect its St. Louis locations.
The layoffs are due to a decline in sales and net income. Monsanto sales fell by $800 million for the 2015 fiscal year, and net income dropped by 15.5 percent. The company reported a $495 million loss in the fourth quarter. Monsanto is looking to save between $275 and $300 million with the cutbacks.