Pilgrim's Pride closes 3 chicken plants
Pilgrim's Pride has announced that it will idle 3 US chicken processing plants and lay off approx. 3,000 workers.
The poultry processor, which is currently reorganizing under bankruptcy protection, says these measures will reduce production by as much as 10%.
The chicken processing facilities in Douglas, Ga., El Dorado, Ark., and Farmerville, La, which are expected to shut by mid May, are estimated to generate savings of US$110 mln a year as the company works to slash costs in an effort to emerge from bankruptcy, Pilgrim's Pride said.
"The idling of these three plants is a painful reflection of the unprecedented challenges facing our company and our industry from an excess supply of chicken and weakening consumer demand resulting from a crippled economy," said Pilgrim's Pride Chief Executive Don Jackson.
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