Green Plains laying off around 40 employees to “right size” following asset shifts

In Nebraska, Reuters reports that Green Plains has started laying off employees in the wake of selling off ethanol production assets rather than due to weak production margins. Sources told Reuters that about 40 people had been laid off as the company seeks to “right size” itself. The company recently sold three ethanol plants to Valero as well as a vinegar plant while permanently shuttering an ethanol plant in Virginia. Low ethanol prices have hit margins across the industry.