Potash groups struggle as price hits six-year low Potash groups struggle as price hits six-year low
12:27 UK, 15th Jan 2014, by Agrimoney.com
'Difficult decisions'
Intrepid Potash on Tuesday became the latest North American producer to reveal hardship from the price declines, revealing that it was to cut 7% of its workforce, and cut executive pay, in a drive to save $15m in annual costs.
"These are difficult, but necessary decisions," said Dave Honeyfield, Intrepid's chief financial officer, saying that the cuts "better position Intrepid in today's market environment".
"We are treating those impacted by these changes with the respect and fairness they deserve, while creating value for our shareholders by running Intrepid as efficiently as possible."..