Monsanto Cutting 1,000 Jobs Facing First Annual Loss in 6 Years*

By Claire Bernish

Agrichemical behemoth Monsanto plans to cut an additional 1,000 jobs to compensate, in part, for a slump in sales of its genetically-engineered corn seeds. The seeds led to a first quarter loss of $253 million — which, on the whole, represents a 17% drop in revenue.

“Monsanto has struggled in recent quarters to deal with slumping corn prices in the U.S., which have reduced demand for its best-selling product: genetically-enhanced [read: modified] corn seeds,”reportedABC News.

“Farmers are shifting more acres to other crops after surpluses of corn and other crops, including wheat, have squashed commodity prices.”

In fact, Monsanto’s sales have fallen roughly 20% over the past year — perhaps indicative of the growing backlash against both its ubiquitous, genetically-modified crops, as well as the glyphosate-based Roundup required to treat them. These…