Louis Dreyfus initiates widespread cost-cutting measures

Louis Dreyfus initiates widespread cost-cutting measures

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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1 Comment

  1. Avatar
    Karen
    November 29, 2019 at 5:29 pm

    Just a correction. LDC is not a French company. See ldc.com