Monsanto to Close Three R&D Facilities; Cuts Approximately 90 Jobs
ST. LOUIS, MO – Monsanto is planning to close up shop at three of its research and development centers by 2016.
This move is expected to further trim back costs after the company announced in October that it would be cutting as much as 2,600 jobs within the next 18 to 24 months.
The three research centers, located in Wisconsin, Connecticut, and North Carolina, employ about 155 people. About 65 of those people would be moved to the Chesterfield Research Village in St. Louis, Missouri area, leaving 90 without a job. Affected workers that will not be moving to the new center will be given a severance package, including pay, extended benefits, and educational assistance.
Reuters reports that the Middleton, Wisconsin and Mystic, Connecticut facilities focus on seed trait development research, and the Research Triangle Park, North Carolina, location focuses on plant screening and phenotyping.
The Wisconsin location will close in the first half of 2016, and the Connecticut and North Carolina locations in the second half of the year.
Monsanto is currently seeking buyers for the properties in Wisconsin and Connecticut, and a replacement tenant for its leased property in North Carolina, according to Reuters.
The company employs approximately 22,500 employees at more than 400 facilities worldwide in 60 countries.