Market Chatter: Tyson Foods to Close Kansas Plant, Cut Jobs

MT Newswires Live
2024-12-03

Tyson Foods (TSN) plans to close a meat plant in Kansas next year and slash 809 jobs in the process with the aim of cutting costs and operating "more efficiently", Bloomberg News reported Monday, citing a letter by the company to the Kansas Department of Commerce.

The suspension of operations in Emporia is expected to be complete by Feb. 14 and activities at its laboratory in the same town also will be halted, according to the report.

This comes after a series of plant shutdowns since last year as the company's beef operation in the US faces a severe shortage of cattle, Bloomberg said.

Tyson Foods did not immediately respond to MT Newswires' request for comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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