Mosaic to cut 500 jobs

Published online: May 17, 2014
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U.S. fertilizer producer Mosaic Co. will eliminate 500 jobs in the next 12 months, part of a plan to cut $500 million in costs over five years, CEO Jim Prokopanko said.

Prokopanko said that the company will shed the jobs through layoffs, attrition, early retirement and elimination of contractors. The cost-cutting is aimed at bolstering Mosaic's status as a low-cost phosphate producer and improving its relatively high-cost position in potash.