For all the news about the supposed downturn in plant-based proteins, it is worth noting the trouble Tyson, which supplies about a fifth of the beef, pork and chicken in the United States, is going through.
Two processing plants closed in the spring and Tyson announced the closure of four more as the company posted a $417 million loss and shares slumped about 6% in Monday trading. In addition to the jobs lost at the closing plants, Tyson announced in April that it would lay off about 15% of senior leadership roles and 10% of corporate roles.
"Tyson CEO Donnie King pointed to these market conditions when discussing Tyson’s chicken sales decline during an analyst call Monday.
'Market conditions in chicken are still challenged with commodity prices across most cuts remaining significantly lower compared to last year,' he said."
Our source for this meme is CNN.
Two processing plants closed in the spring and Tyson announced the closure of four more as the company posted a $417 million loss and shares slumped about 6% in Monday trading. In addition to the jobs lost at the closing plants, Tyson announced in April that it would lay off about 15% of senior leadership roles and 10% of corporate roles.
"Tyson CEO Donnie King pointed to these market conditions when discussing Tyson’s chicken sales decline during an analyst call Monday.
'Market conditions in chicken are still challenged with commodity prices across most cuts remaining significantly lower compared to last year,' he said."
Our source for this meme is CNN.
Meme, Vegan, Plant-Based, Tyson, Chicken, Processing, Slaughterhouse, Decline, Closure