NORTH LITTLE ROCK, Ark. — According to our partners at Arkansas Business, Tyson Foods has announced the closure of four chicken plants, including one in North Little Rock by October 7.
The decision came after Tyson Foods Inc. of Springdale reported a $417 million loss in its fiscal third quarter on Monday— results that didn't meet Wall Street expectations.
According to reports, the company showed a loss of $1.18 per share, while earnings, adjusted for asset impairment costs and restructuring costs, were 15 cents per share.
“The difficult decision to close four chicken facilities in North Little Rock, Arkansas, Corydon, Indiana, Dexter, Missouri, and Noel, Missouri, demonstrates our commitment to bold action and operational excellence as we drive performance, including lower costs and improving capacity utilization, and build on our strategy of making Tyson Foods stronger in the long-term,” said Donnie King, President and CEO of Tyson Foods
The North Little Rock Mayor shared his disappointment in the news, stating that he'll work to find jobs for the displaced workers.
“It is unfortunate Tyson is closing their plant in North Little Rock after operating over 50 years. I believe the infrastructure we have built with Amazon, Dollar General, Safe Foods, Federal Metals and others will provide a vast opportunity of jobs for the displaced employees. We have created over 3,000 new jobs in the last three years. We will continue to work with the North Little Rock Chamber of Commerce and new businesses to secure positions for the displaced workers,” Mayor Terry Hartwick said.
The company expects all four chicken plants to close sometime in the first two quarters of fiscal 2024.