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Plant Closure

All articles tagged with #plant closure

Goodyear Forward: Margin gains amid persistent cash burn
business15 days ago

Goodyear Forward: Margin gains amid persistent cash burn

Goodyear’s Goodyear Forward turnaround is delivering some margin progress and a pivot to premium tires, but cash burn remains, with a first-half net loss of $453 million, capex around $2 billion in 2024–25, and debt above $7 billion. Management still aims for a double-digit operating margin and cash flow generation, aided by cost cuts and the Fayetteville, NC plant closure, while Asia-Pacific shows a bright spot and headwinds from tariffs and higher raw-material costs challenge U.S. results.

via CNBC|
#business#cash-flow#goodyear
Tyson reshapes beef operations, selling Pasco plant and closing others
business29 days ago

Tyson reshapes beef operations, selling Pasco plant and closing others

Tyson Foods announced a company-wide restructuring that closes its Joslin, Illinois and Eagle Mountain, Utah beef facilities and puts the Pasco, Washington plant up for sale, directing beef production to Dakota City, Nebraska; Holcomb, Kansas; and Amarillo, Texas, a move tied to a cattle shortage and market pressures, with the Tri-Cities Wallula plant remaining a major local employer.

via Tri-City Herald|
#beef#business#pasco
Tyson shuts Joslin beef plant, 2,500 workers face layoffs amid network revamp
business1 month ago

Tyson shuts Joslin beef plant, 2,500 workers face layoffs amid network revamp

Tyson Foods announced the closure of its Joslin, Illinois beef facility, informing employees their duties end around Aug. 14–15, 2026, with some workers able to stay through Oct. 12 and be paid. About 2,500 union workers will lose their jobs. The company also plans to close its Eagle Mountain, Utah facility and consider selling its Pasco, Washington facility, shifting capacity to other locations and ramping a second shift at Amarillo, Texas as cattle become available. Local officials and business groups expressed concern but urged resilience while Tyson cites a need to optimize a more efficient network amid an expected beef-production decline and an anticipated operating loss.

via KWQC|
#business#joslin-illinois#layoffs
Illinois Plant's Sudden Closure Leaves 300 Workers Stranded After 60 Years
business1 year ago

Illinois Plant's Sudden Closure Leaves 300 Workers Stranded After 60 Years

The Momence Packing Company in Illinois, a community staple for over 60 years, abruptly closed in June, resulting in 300 workers losing their jobs with little notice, despite recent investments in the facility. Johnsonville Foods cited operational optimization and future growth plans for other facilities as reasons for the closure, which has deeply affected the local community and workers like Lupe Hernandez, who had planned to work longer. The company is providing 60 days of pay and benefits, but the sudden closure highlights economic and social challenges for the affected workers and community.

via Yahoo Finance|
#business#economic-impact#illinois
Johnsonville Closes Illinois Plant, Shifts Jobs to Wisconsin
business1 year ago

Johnsonville Closes Illinois Plant, Shifts Jobs to Wisconsin

The Momence Packing Company in Illinois, a key local employer for over 60 years, abruptly closed, leaving 274 workers unemployed with little notice, despite recent investments in the facility. Johnsonville Foods cited operational optimization as the reason for closure, transferring assets to other facilities and promising 60 days of pay and benefits. The sudden shutdown has devastated the community and highlighted challenges in employment and financial stability for affected workers, who are advised to file for unemployment, seek local resources, and consider retraining or part-time work.

via Yahoo|
#business#economic-impact#illinois
Blue Diamond to Close Sacramento Plant, Moving Operations South
business1 year ago

Blue Diamond to Close Sacramento Plant, Moving Operations South

Blue Diamond will close its historic midtown plant in Sacramento over the next two years to consolidate operations and protect its cooperative's financial stability, resulting in 600 job losses. The move reflects challenges faced by California's almond industry, including droughts and supply chain issues, and opens opportunities for redevelopment of the site to support future economic growth in Sacramento.

via Sacramento Bee|
#almond-industry#blue-diamond#business
Tyson Foods to Close Multiple Plants, Lay Off Over 800 Workers
business1 year ago

Tyson Foods to Close Multiple Plants, Lay Off Over 800 Workers

Tyson Foods announced it will lay off 809 employees and close its beef and pork processing plant in Emporia, Kansas. Despite reporting a fourth-quarter profit of $357 million, the company is restructuring and encourages affected workers to apply for other positions within the company. Tyson is also collaborating with Kansas government officials to provide resources for the laid-off employees.

via 4029tv|
#business#employment#kansas
Tyson Foods Shuts Down Iowa Pork Plant, Leaving 1,276 Workers Jobless
business2 years ago

Tyson Foods Shuts Down Iowa Pork Plant, Leaving 1,276 Workers Jobless

Tyson Foods announced the permanent closure of its pork plant in Perry, Iowa, affecting over 1,200 jobs. The decision is part of the company's efforts to optimize operations and asset utilization. The closure is expected to take place on June 28, posing a significant impact on the local community. Tyson Foods encourages affected employees to apply for other open roles within the company and is working with state and local officials to provide support.

via Fox Business|
#business#iowa#job-loss