Hormel Foods is set to lay off over 230 staff at its Jennie-O processing plant in Minnesota due to recent bird flu outbreaks hitting its turkey volumes.
Some 233 employees at its facility in Faribault will be let go. Plant manager Randy Vergin said the layoffs would be temporary and the company intended to recall everyone to work when turkey supplies return to normal levels.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
"We do not have an anticipated return to work date at this time, but look forward to welcoming our team members back when production levels return to normal," he added.
Hormel said the plant would switch to a single shift for the foreseeable future.
Last month Hormel warned the outbreak would put pressure on sales and earnings. While it stuck to its forecast for adjusted earnings guidance to hit $2.50- 2.60 per share, it said it expected the situation to push EPS "toward the lower end of this range".
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
