![Tyson Foods has announced plans to lay off nearly 1,700 employees and will be closing two chicken plants in May.](https://san.com/wp-content/uploads/2023/03/FeaturedImage_1678891799269-GettyImages-526768880.jpg?w=1000)
KARAH RUCKER: TYSON FOODS HAS ANNOUNCED PLANS TO LAY OFF NEARLY 17 HUNDRED EMPLOYEES. TYSON WILL BE CLOSING TWO CHICKEN PLANTS IN MAY – ONE IN ARKANSAS AND ONE IN VIRGINIA.
IN A STATEMENT – TYSON SAID IT WILL BE CLOSING DOWN THE FACILITIES AND FOCUSING ON OPTIMIZING OPERATIONS – BY UTILIZING FULL CAPACITY AT EXISTING PLANTS.
TYSON UNDERPERFORMED EXPECTATIONS LAST QUARTER – ITS OPERATING INCOME CUT IN HALF COMPARED TO ONE YEAR AGO.
IT’S THE LATEST COMPANY TO DOWNSIZE TO SAVE COSTS. IN RECENT MONTHS –
PEPSI CUT JOBS. BEYOND MEAT AND IMPOSSIBLE FOODS CUT MORE THAN A FIFTH OF ITS WORKFORCES. SPICE GIANT MCCORMICK AND COCA-COLA ARE OFFERING BUYOUTS TO ITS EMPLOYEES IN AN EFFORT TO SAVE AT A TIME OF ECONOMIC UNCERTAINTY.