Earlier this week, Truterra employees were notified of a reduction in force. This announcement was part of parent company Land O’ Lakes restructuring the business.
In a statement a company spokesperson said: “Land O’Lakes, Inc. is shifting its approach with Truterra from operating a stand-alone business to embedding the work within our three core business units. This shift strengthens alignment between each business unit’s priorities and the work that drives customer value and growth. This integration reflects our belief that this work isn’t a separate initiative, but a core capability that supports every part of our business.”
According to social media posts, dozens of employees were part of the reduction in force.
In its first three years of offering a carbon market enablement program, Truterra facilitated payments of over $21 million in total to farmers.
Last fall, the company announced a partnership with Indigo Ag, with a focus for the companies to further enable sustainable incentive programs to farmers.
“These are new products and new markets,” says Eric Gibson, a sustainability analyst with Rabobank. “Just like the economies that farmers and ranchers are operating in, these sustainability economies are cyclical. Now, what’s different about a lot of these carbon products and opportunities is they’re new cycles that they’re beginning. So, will they mirror and mimic what a lot of the ag economy looks like? We really don’t know. I think many of us will project that, hey, even if some of these carbon opportunities go away today, will they resurface in 3, 5, 8 years?”
