Smithfield (World’s largest pork processor) Foods Closes Six Plants, Lays Off 1,000 Workers

[Omaha Steve]

http://www.laborradio.org/node/10526

The World’s largest pork processor announced plans to close plants and lay off workers on Tuesday. Jesse Russell reports:

Smithfield Foods will be letting go of 1,800 workers as it closes six plants and cuts production by 10 percent. The company has 40 processing plant and the layoffs impact 3.4 percent of the company’s workforce. The six plants that will be closed are in Virginia, Florida, North Carolina, Kansas, Ohio, and Nebraska. Meat companies have been struggling with slower supermarket sales and lower orders from restaurants as consumers tighten their belts and dine out less. The company will also cut the number of independent operating companies from seven to three. The businesses will be merged and consolidated.

[Sherman A1]

1. This is not good news at all

both for the workforce but also the trend, noting slower supermarket sales. I wonder if Smithfield is doing some "pro-active" readjustments of it's operation looking to get way out ahead of what it sees in the immediate future?