Tyson Foods closing 4 US chicken plants
Tyson Foods closing facilities in Arkansas, Indiana and Missouri
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Tyson Foods announced Monday that it will close four more chicken plants in the U.S. to cut costs.
The company said it will move the work performed inside the North Little Rock, Arkansas; Corydon, Indiana; Dexter, Missouri; and Noel, Missouri, plants to newer locations closer to its customer base.
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"The difficult decision to close four chicken facilities… demonstrates our commitment to bold action and operational excellence as we drive performance, including lower costs and improving capacity utilization, and build on our strategy of making Tyson Foods stronger in the long-term," Tyson Foods CEO Donnie King said in a statement.
A package of Tyson Foods Inc. Hillshire Farm brand pastrami deli meat is arranged for a photograph in Tiskilwa, Illinois, on Monday, Aug. 6, 2018. (Daniel Acker/Bloomberg via Getty Images)
Tyson said in April it would cut roughly 10% of corporate jobs and 15% of senior leadership roles, while also laying off corporate employees in Chicago and South Dakota who declined to relocate to Tyson's headquarters in Arkansas.
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Also in April, about 150 employees at a Tyson Foods chicken plant in Van Buren, Arkansas, went on strike for better treatment before the company shut down the facility on May 12, eliminating jobs for 969 employees as it seeks to improve performance in its chicken business.
Signage outside a Tyson Foods Inc. plant in Union City, Tennessee, on Feb. 16, 2022. (Luke Sharrett/Bloomberg via Getty Images)
"While current market dynamics remain challenging, Tyson Foods is fully committed to our vision of delivering sustainable, top-line growth and margin improvement," King said. "I’m encouraged by the improvements we made this quarter, including our Tyson Core Business lines that continue to outpace our peers in volume growth."
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Shares of Tyson Foods are down around 14.1% lower year to date.
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Reuters contributed to this report.