Tyson Foods Inc., the top US meat company by sales, is cutting 10% of its corporate staff and 15% of its senior leadership as part of a move to cut costs.
(Bloomberg) — Tyson Foods Inc., the top US meat company by sales, is cutting 10% of its corporate staff and 15% of its senior leadership as part of a move to cut costs.
Tyson announced the decision Wednesday to affected staff in a memo from Chief Executive Officer Donnie King. “This is not an easy day, and we recognize it will be difficult for our team members,” King said.
The Springdale, Arkansas-based company said in March it would shutter two under-performing poultry operations in an effort to strengthen its chicken business that has struggled with too much supply. In October, the company said it was closing offices in Chicago and South Dakota and giving a chance for workers there to relocate to Arkansas. The company also parted with several top executives in January.
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