Tyson Foods will axe hundreds of corporate roles, including top leadership positions, to cut costs as it deals with shrinking profits.
The cuts will see its corporate workforce reduced by 10 percent and executive roles by 15 percent.
CEO Donnie King said discussions with most impacted staff are scheduled for this week.
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He said: “We will drive efficiency by focusing on fewer initiatives with greater intensity and removing duplication of work.”
Tyson employed around 6,000 US corporate staffers as of October 1 and 118,000 non-corporate laborers at its meat plants and warehouses.
A company spokesperson said the top executives to leave will be largely vice presidents and senior vice presidents.
Some corporate staff departed after Tyson’s October announcement of relocating all corporate employees to its headquarters in Springdale, Arkansas.
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A spokesperson said the 10 percent cut in corporate jobs is unrelated to the relocation.
Tyson has altered its senior leadership positions as well by ousting Chris Langholz from the international business president seat in August.
In September, Tyson said Noelle O’Mara, who ran its prepared foods unit, had quit.
John R. Tyson, the company’s founder’s great-grandson, assumed as finance head and was subsequently arrested in November for inappropriate conduct.
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A spokesperson said the position of finance chief is not being eliminated.
Tyson removed the president of its poultry unit in January after the company erroneously forecasted chicken demand.
For years, the business has battled to improve profit in its chicken unit, and in March, it confirmed the closure of two US processing plants with about 1,700 workers.
Source: CNBC
