AgJunction Reduces Workforce

AgJunction Inc. has announced that after completing its merger with Novariant, Inc., and conducting an internal review to identify operating synergies, it is implementing a program to consolidate operations and redundant resources and reduce its global workforce by about 20%.

The program will take place over the first nine months of 2016, with the bulk of the costs being recorded in the fourth quarter of 2015.

This program is intended to streamline the company's overall business. When it is complete, AgJunction anticipates lowering its expenses by approximately $3.3 million per annum.

Dave Vaughn, AgJunction’s Chief Executive Officer, said the company is aligning its workforce to its current needs and focusing on its core business.

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