August 7, 2023
Tyson Foods has announced it will close 4 of its chicken processing plants.
The meat processor said today that it is shutting down four chicken plants — in North Little Rock, AR; Corydon, IN; Dexter, MO; and Noel, MO.
Tyson said that it will shift production to other facilities and halt operations at the four plants in the first two quarters of fiscal 2024.
Company shares sank about 8% as the company said it is evaluating all operations and closing four more chicken plants in order to reduce costs.
Tyson reported earnings for the quarter ending July 1 that showed chicken revenue fell about 3.5%.
The poultry processor has been trying to cut costs over the past several months. It closed its corporate offices in Chicago and South Dakota late last year and consolidated its workforce in Arkansas. In March it announced the closure of two plants in Arkansas and Virginia in order to better use available capacity at other facilities.
Tyson also laid off 15% of its senior leadership and 10% of its corporate workers in April as it faces steep inflation on labor, grain, and other inputs.
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