Tyson Foods to Eliminate 10% of Corporate Jobs: Reuters
— zerohedge (@zerohedge) April 26, 2023
CHICAGO (Reuters) – Tyson Foods Inc will eliminate about 10% of corporate jobs and 15% of senior leadership roles, Chief Executive Donnie King told employees on Wednesday.
The layoffs are the latest cost-cutting move for the biggest U.S. meat company by sales as it grapples with declining profit and struggles to improve results in its iconic chicken business.
Discussions with most affected employees are slated to take place this week, King said in a memo to employees seen by Reuters. Shares closed 1.1% lower at $60.35 on Wednesday.
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