CEDAR RAPIDS, Iowa (KCRG) – One of the nation’s largest food and agriculture companies, with ties to eastern Iowa, is cutting its workforce. Cargill announced plans to layoff five percent of its employees worldwide. According to the company’s website, it employs around 160,000 employees.

The Minnesota based company has made a profit after the pandemic with rising inflation. But says falling numbers of U.S. cattle and grocery prices are hitting them the hardest. The company has not said if the layoffs will impact the multiple Cargill plants across eastern Iowa.

The Minnesota company did release a statement to the ABC affiliate in Minneapolis saying, “To strengthen Cargill’s impact, we must realign our talent and resources to align with our strategy. This difficult decision was not made lightly.”