Leading US meatpacker Swift announced yesterday (18 January) that it has cut 58 jobs at its corporate offices, along with other cost-cutting steps designed to increase competitiveness.
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The layoffs, which were effective immediately, represent about 10% of Swift’s corporate staff. Those affected will receive a severance package including continued health benefits and help finding future employment.
Swift said that it was not filling 12 jobs at its HQ and planned to put costs such as contract services and professional fees.
Swift president and CEO Sam Rovit said the move was unrelated to last month’s immigration raids.
“Operationally, we are well on our way to recovery [from the raids], and we remain confident in our financial position,” Rovit said in a statement. “We anticipate no continuing impact on our business beyond May of this year.”
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By GlobalDataThe cost cuts are expected to generate up to US$15m in net annualised savings by May, the end of the company’s fiscal year.
