05 March 2009; 18:39
SUBJECT: MESSAGE TO ALL CARGILL COTTON EMPLOYEES
Dear colleagues,
During our Town Hall meeting last Friday (27th Feb 2009), there was a high level of importance placed upon hunkering down/belt tightening to improve the performance and efficiencies of our business during this time of International financial crisis to ensure we remain as a global leader in our industry. Once again, many thanks for the tremendous participation and ideas you were willing to make in assisting with our efforts. Several of you have also asked us to elaborate or clarify a little further on what important strategies are being employed that will have a direct impact on our employees.
As you are aware, over the past several months we have been focused on reducing our costs across the business. Our efforts have included achieving synergies from the collaboration with other business units and functions, as well as making plans that will reduce our overall cost structure long-term. While we are continuing to make progress in these areas, but there is still much to do, and today I wanted to update you on the Selling & Administrative (S&A) work that is going on around the business.
Recently our leadership teams have been systematically looking at our business and have been making decisions that will help us deliver on our commitment to take 2 - 3 million dollars out of our cost structure by the end of 2010. Some of these decisions are being investigated while others are already being implemented. As communicated during the town hall meeting, these have included the closure of our ginning operations in Tanzania (Africa), the continued focus on reducing travel and entertainment expenses, the elimination of membership and association fees, the better use of technology and storage, and the possible consolidation of some functional areas. You will begin to see these changes occur throughout 2009 and into 2010.
Our S&A plans represent difficult decisions that impact hard-working people who have made significant contributions to both Cargill and Cargill Cotton. However, the work we are doing is necessary in order for us to continue to be successful and competitive long-term. We will continue to be transparent with our employees and will provide updates as these decisions are made.
We appreciate all of the work that you are doing in support of the business and thank everyone for their continued support and commitment.
Best rgds,
Gary W. Taylor
President, BU Leader WW Cotton
Cargill Cotton
SUBJECT: MESSAGE TO ALL CARGILL COTTON EMPLOYEES
Dear colleagues,
During our Town Hall meeting last Friday (27th Feb 2009), there was a high level of importance placed upon hunkering down/belt tightening to improve the performance and efficiencies of our business during this time of International financial crisis to ensure we remain as a global leader in our industry. Once again, many thanks for the tremendous participation and ideas you were willing to make in assisting with our efforts. Several of you have also asked us to elaborate or clarify a little further on what important strategies are being employed that will have a direct impact on our employees.
As you are aware, over the past several months we have been focused on reducing our costs across the business. Our efforts have included achieving synergies from the collaboration with other business units and functions, as well as making plans that will reduce our overall cost structure long-term. While we are continuing to make progress in these areas, but there is still much to do, and today I wanted to update you on the Selling & Administrative (S&A) work that is going on around the business.
Recently our leadership teams have been systematically looking at our business and have been making decisions that will help us deliver on our commitment to take 2 - 3 million dollars out of our cost structure by the end of 2010. Some of these decisions are being investigated while others are already being implemented. As communicated during the town hall meeting, these have included the closure of our ginning operations in Tanzania (Africa), the continued focus on reducing travel and entertainment expenses, the elimination of membership and association fees, the better use of technology and storage, and the possible consolidation of some functional areas. You will begin to see these changes occur throughout 2009 and into 2010.
Our S&A plans represent difficult decisions that impact hard-working people who have made significant contributions to both Cargill and Cargill Cotton. However, the work we are doing is necessary in order for us to continue to be successful and competitive long-term. We will continue to be transparent with our employees and will provide updates as these decisions are made.
We appreciate all of the work that you are doing in support of the business and thank everyone for their continued support and commitment.
Best rgds,
Gary W. Taylor
President, BU Leader WW Cotton
Cargill Cotton
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