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7-Misc: Monsanto cuts down 25% of jobs in South African seed business

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TITLE:  Seed firm to loose staff
SOURCE: Business Day, South Africa, by Louise Cook
DATE:   August 25, 1999

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Rationalisation at Carnia and Sensako

THE rationalisation of the research, development and operational
divisions of seed companies Carnia and Sensako, with an annual
combined turnover of about Rand 300 million, was likely to lead
to job losses of 25% of staff. The companies are 51% owned by US
seed group and biotechnology leader Monsanto. Monsanto SA CEO
Peter Turner said yesterday the rationalisation was necessary for
the companies to be cost-effective. Monsanto has cemented its
commitment to the SA agricultural market by restructuring two
recent acquisitions to ensure 75% job retention in the research,
development and operations divisions. The restructuring will
result in an effective and globally competitive company able to
increase its value to agriculture through state-of-the-art
biotechnology. Turner said the restructuring was in keeping with
the international trend of consolidation within seed companies
due to rapid changes in technology. Monsanto is proud the new
structures will be of enormous benefit to SA, making it a work
leader in seed technologies and allowing for increased growth and
potential job creation.

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