NEW YORK (AP) -- Monsanto says it expects full year earnings at the low end of its previous expected range. The world's largest seed company is also cutting up to 700 more jobs.
The St. Louis company expects ongoing earnings, which excludes some items, between $2.40 per share and $2.45 per share for the fiscal year that ends Tuesday.
The previous expected range was $2.40 to $2.60 per share.
Monsanto also says it's cutting about 650 to 700 more jobs as it continues to restructure its business. The company has more than 20,000 total employees.
The job cuts will lead to $90 million in severance and benefit costs, $60 million in facility closure expenses and $30 million in asset writedowns.
(Copyright 2010 by The Associated Press. All Rights Reserved.)