The Tyson Foods plant announced the closure of its 6 facilities and the layoff of more than 4,600 workers in Arkansas, Indiana, Missouri, and Virginia. Reports say the move was due to the food processing company obtaining a loss of around $417 million in the last quarter.The Tyson Foods plant in the city of Noel, Missouri was acquired by the food processing company from Hudson Foods, a defunct meat processor in the 1990s. Further reports say earlier in August, the Tyson Foods plant in Noel hosted a job fair for 1,500 workers.
Unfortunately, according to Cooley, the Tyson Foods plant in Noel was one of the six facilities that the company announced to shut down this year. In addition, apart from Missouri, more than 4,600 Tyson Foods plant workers will also be dismissed in the states of Arkansas, Indiana, and Virginia. Reportedly, the shutdown and the layoffs were the result of inflation that contributed to the Tyson Foods plant’s loss of around $417 million in the last quarter.
Tyson Foods Plant’s Struggles
According to McCorvey, Morningstar analyst Kristoffer Inton states that aside from being impaired by the increasing costs of grain and the international avian flu outbreak, the Tyson Foods plant also struggled with balancing how much meat they produce in comparison to their purchases from other producers.