Photo by Tyson on Unsplash
Tyson Foods Shuts Down Pork Plant, Jobs Lost
March 12, 2024
Tyson Foods, the meat company, declared on Monday the permanent closure of its pork plant in Perry, Iowa. This decision will affect approximately 1,200 employees.
During the height of the COVID-19 pandemic, Tyson raked in hefty profits due to surging meat prices. However, facing a subsequent decline and sluggish demand for certain products, the company has been forced to make tough choices. Over the past year, Tyson has shut down six chicken plants across the United States and laid off corporate staff.
The Perry pork plant, a major employer in the region, served as a vital economic hub for the community, according to Mayor Dirk Cavanaugh. With a population of around 8,200, Perry will undoubtedly feel the impact of this closure deeply.
The plant is scheduled to cease operations on June 28, dealing a significant blow to both its workforce and the local economy. Tyson, while not disclosing the exact number of affected employees, is encouraging them to seek opportunities within the company.
In a statement, Tyson said, “While this decision was not easy, it emphasizes our focus to optimize the efficiency of our operations to best serve our customers.”
The financial picture for Tyson’s pork division paints a grim picture. In the fiscal year ending on Sept. 30, the company reported an adjusted operating loss of $128 million, a sharp contrast to the $198 million income from the previous year. Sales volumes dipped by 2.2%, accompanied by a 7.9% decline in average prices.
The Perry plant, responsible for processing approximately 9,000 pigs per day, contributes to nearly 2% of the total U.S. pork production, as noted by Steve Meyer, chief livestock economist for Ever.Ag.
This closure is not an isolated incident within the industry. In December, Smithfield Foods announced the termination of contracts with 26 hog farms in Utah, citing oversupply and weakened consumer demand. Prior to that, Smithfield had confirmed the closure of 35 hog farm sites in Missouri and a pork plant in North Carolina.
Recent News
Massive Data Breach Hits Ticketmaster, Affecting 560 Million Customers
Ticketmaster has fallen victim to a significant cyber-attack, potentially compromising the data of up to 560 million customers. The breach was confirmed by Ticketmaster’s parent company, Live Nation, which revealed that a notorious hacking group, ShinyHunters, is behind the attack. The hackers are demanding a ransom of approximately £400,000 to prevent the data from being sold on the dark web.
Toyota Recalls 100,000+ Tundra and Lexus LX SUVs Over Engine Debris Issue
Toyota has announced a recall for over 100,000 Tundra pickups and Lexus LX SUVs in North America due to potential engine issues caused by machining debris. This recall affects certain 2022-2023 models of the Tundra and LX, which are equipped with the new V6 twin-turbo engine. The V6 twin-turbo engine has faced considerable scrutiny regarding its reliability, especially when compared to the previous naturally aspirated V8 engines.
Wordle and Worldle Battle Over Names
A legal dispute has erupted between the wildly popular word game Wordle and the lesser-known geography game Worldle, centering on the similarity of their names. Wordle, which was developed by Josh Wardle in 2021 and later acquired by the New York Times in 2022 for a substantial sum, has gained immense popularity. In this game, players have six attempts to guess a five-letter word.
FDA Issues Recall for Crecelac Goat Milk Infant Formula
The U.S. Food and Drug Administration (FDA) has issued a safety alert regarding Crecelac Goat Milk Infant Formula and other infant formula products imported and distributed by Dairy Manufacturers Inc. The alert highlights Cronobacter contamination concerns with Crecelac Infant Powdered Goat Milk Infant Formula. Although Dairy Manufacturers Inc. initiated a recall on May 24, 2024, due to non-compliance with FDA regulations, new findings of Cronobacter contamination have prompted further action.