President Joe Biden and Vice President Kamala Harris have made a mess of the country and their policies appear to have created a more unstable world, but there is more damage coming that President-elect Donald Trump will have to fix. Cargill, the largest privately held company in the United States and the latest to fall victim to “Bidenomics,” is reducing its global workforce in response to challenges stemming from lower commodity prices. The Minnesota-based agricultural giant, one of the world’s leading commodity traders, confirmed to FOX Business that it is laying off approximately 5% of its employees, which amounts to around 8,000 jobs.
The company stated that the layoffs are part of a “long-term strategy” outlined earlier this year as part of its ongoing efforts to adapt to market conditions. “As we look to the future, we have laid out a clear plan to evolve and strengthen our portfolio to take advantage of compelling trends in front of us, maximize our competitiveness, and, above all, continue to deliver for our customers,” the company said in a statement to FOX Busines.
The layoffs come as prices for commodity crops like wheat and soybeans have softened, putting pressure on profit margins across the agricultural industry. According to the World Bank, commodity prices declined by 4% in the third quarter of 2024 compared to the previous quarter, with decreases across most categories except for fertilizer and precious metals. The World Bank forecasts further declines, projecting a 5% drop in commodity prices in 2025 and an additional 2% in 2026. The World Bank’s aggregate commodity price index is expected to fall to its lowest level since 2020, reflecting the ongoing challenges in the market during the Biden-Harris regime.
“As the world around us changes, we are committed to transforming even faster to deliver for our customers and fulfill our purpose of nourishing the world,” Cargill said, adding that in order to “strengthen Cargill’s impact, we must realign our talent and resources to align with our strategy.”
Meanwhile, not everyone who is on the left side of the political spectrum is freaking out after now-President-elect Donald Trump’s massive win over Vice President Kamala Harris. And that includes “Young Turks” media founder Cenk Uygur, who says he’s quite “optimistic” after Trump’s win.
Uygur, who was once highly critical of Trump, has shifted his perspective, acknowledging that the Make America Great Again (MAGA) movement is no longer the “mortal enemy” he once believed it to be. Instead, he now sees the political establishment as his true adversary, a sentiment he expressed in a series of social media posts. “I’ve been trying to figure out why I’m more optimistic now than I was before the election, even though I was so against the guy who won. I know now. MAGA is not my mortal enemy (and neither is the extreme left). My mortal enemy is the establishment. And they have been defeated!” Uygur wrote on X.
Uygur said Trump’s win was a result of more than “establishment candidate” Harris falling short at the ballot box, pointing to the decline of legacy media “propaganda.” “It’s not just that the establishment candidate lost, it’s that their media is mortally wounded. The source of their strength was not insipid politicians like Mitch McConnell and Joe Biden. The source of their strength was their propaganda machine — the mainstream media,” he wrote. The founder of The Young Turks expressed his enthusiasm for the growth of independent journalism on social media, professing his admiration for the free and unrestricted media landscape online.
“Now, online media is strong enough that their oppressive monopoly on the American mind has been broken. Now, we’re in the jungle. They hate that! I love it! This uncontrolled marketplace of ideas is where I’m home. I’d rather be in the populist woods than an establishment prison,” Uygur added.
