%TysonFoods (NYSE: $TSN) is permanently closing a meat processing plant in Emporia, Kansas and cutting 800 jobs.
Tyson Foods said its ground %Beef and value-added marinated protein plant will be shutdown in February 2025 to help the company achieve operational efficiencies.
The move comes as Tyson Foods beef operations struggle. In the last fiscal year, the company’s beef unit reported a loss of $291 million U.S.
The Tyson Foods meat processing plant was one of the largest local employers in the Emporia region. In all, the company employs more than 5,000 people across the State of Kansas.
The U.S. meatpacker said in a written statement that as many as 200 Emporia plant workers could be absorbed into Tyson’s other operations, though no final decisions have been made.
Tyson Foods is grappling with market forces that include a declining U.S. cattle population and higher costs for livestock processing.
In 2023, Tyson Foods closed six of its largest chicken processing plants and an Iowa pork plant because of declining market conditions.
The stock of Tyson Foods has risen 14% this year to trade at $63.51 U.S. per share.
