Don’t expect executives from Louis Dreyfus Company (LDC) to wine and dine you anytime soon.
France’s top agricultural commodities conglomerate has initiated sweeping cost-cutting measures, issuing an internal memo earlier this week, seen by Reuters, to slash spending on travel, entertainment, hiring and salaries.
LDC has also carried out a widespread management shakeup in the past month across many divisions as it tries to halt the falling margins that have plagued it and other grain traders in a difficult year where the trade war and African swine fever have hit hard.
Just a correction. LDC is not a French company. See ldc.com