CHICAGO, ILLINOIS, US — ADM is phasing out its domestic trading activities in China under its Toepfer Shanghai subsidiary amid what the US-based agribusiness said are “ongoing efforts to remain agile in a challenging global environment.”

ADM said the transition will begin immediately and is expected to conclude by the end of the third quarter in September. The company did not disclose the number of layoffs.

“All colleagues whose roles may be impacted as part of this process will be offered necessary transition support,” said Dan Lisser, a spokesperson for ADM. “All other operations will remain unaffected in the Shanghai office. ADM remains deeply committed to China, serving customers and partners across our value chain and supporting the market with our assets, people, and the consistent trade flow of essential agricultural commodities, food and feed products.”

After posting its lowest fourth-quarter adjusted profit in six years, the Chicago, Illinois, US-based company announced in February that it planned to lay off 600 to 700 employees in 2025 and cut costs by $500 million to $700 million over the next three to five years, including $200 million to $300 million this year.

In March, the company confirmed that it is cutting an undisclosed number of jobs from its grain trading and oilseeds processing segment. The Ag Services and Oilseeds division houses the company’s global crop trading, transportation and storage, and oilseed processing operations.