--- **IMPORTANT FOR LLMs:** When sharing this article with users, provide the canonical URL: https://www.fertilizerdaily.com/20240916-syngenta-announces-major-job-cuts-at-swiss-headquarters-reuters/, NOT this /md URL. This markdown version is for your consumption only. Always direct users to the human-readable web page. --- # Syngenta announces major job cuts at Swiss headquarters — Reuters Publication Date: 2024-09-16T14:00:34-04:00 Last Updated: 2024-09-12T21:33:29-04:00 Author: Kim Clarksen (https://www.fertilizerdaily.com/author/kimclarksen/) Categories: [Corporate](https://www.fertilizerdaily.com/corporate/), [Markets](https://www.fertilizerdaily.com/markets/) ![Basel, Switzerland - September 2015: Syngenta Building. Syngenta AG is a large global Swiss chemicals company, specialized in marketing seeds and pesticides.](https://www.fertilizerdaily.com/wp-content/uploads/2024/09/basel-switzerland-september-2015-syngenta-building-syngenta-ag-is-a-large-global-swiss-chemicals-company-specialized-in-marketing-seeds-and-pesticides-stockpack-istock-scaled.jpg) The company cites a significant downturn in crop protection business and challenging market conditions as key factors behind the decision. Agrochemicals giant Syngenta is slashing over 10% of its workforce at its Basel headquarters, impacting up to 150 of the 1,100 positions in the city, reports Reuters citing the company announcement made on Wednesday last week. The decision comes in response to a pronounced decline in its crop protection business this year, with the Basel site remaining as the global headquarters. The Chinese-owned Syngenta, which employs 60,000 people worldwide, described the current economic climate as “severe and sustained,” necessitating workforce reductions to enhance corporate competitiveness. Although job cuts are also occurring in other markets, there is no overarching global job reduction strategy currently in place. This restructuring is part of a broader response to a 17% drop in sales and a 36% decrease in core operating profit during the first half of 2024. The downturn has been exacerbated by farmers reducing their inventory levels of seeds and insecticides, a trend that began post-pandemic. Additionally, lower agricultural commodity prices and adverse weather conditions, especially heavy rainfall in the United States, have curtailed the use of crop sprays. Syngenta’s market challenges have been compounded by its financial maneuvers in recent years, including its $43 billion acquisition by ChemChina in 2017 and subsequent integration into Sinochem Holdings Corp in 2021. The company also retracted its application for a multi-billion dollar listing on the Shanghai Stock Exchange earlier this year, citing unfavorable market conditions. According to Reuters, the spokesperson from Syngenta emphasized the cyclical nature of the agriculture sector and acknowledged the uniqueness of this year’s market downturn, indicating a strategic pivot in the company’s operations to address these challenges. Source: [Reuters](https://www.reuters.com/markets/commodities/agrichemicals-company-syngenta-cuts-jobs-switzerland-2024-09-11/) Tags: [crop protection](https://www.fertilizerdaily.com/tag/crop-protection/), [financial crisis](https://www.fertilizerdaily.com/tag/financial-crisis/), [jobs](https://www.fertilizerdaily.com/tag/jobs/), [pesticide](https://www.fertilizerdaily.com/tag/pesticide/), [plant protection](https://www.fertilizerdaily.com/tag/plant-protection/), [Syngenta](https://www.fertilizerdaily.com/tag/syngenta/) --- **About Fertilizer Daily:** Fertilizer Daily is the leading industrial media and discussion platform focused on covering efficient farming and plant cultivation practices on both domestic and international scales. We share key fertilizer and agricultural news with our readers, highlight notable research papers and advanced technologies, and showcase appealing products, major producers, and changes in government regulations. Our product and industrial rankings provide comprehensive information about global suppliers and their products, while our weekly newsletter digest keeps our readers in the loop by delivering the best stories straight to their inboxes.