Smithfield Foods Announces Pork Group Restructuring Plan

As part of its plan to cut its annual costs by up to $125 million by the 2011 fiscal year, Smithfield Foods Inc. announced plans to close six pork processing facilities and eliminate approximately 1,800 jobs. The company also plans to reorganize four existing independent operating companies by consolidating them under the business units of The Smithfield Packing Company, Inc., John Morrell & Co. and Farmland Foods, Inc. The plant closings, which will occur over the next three quarters, involve only further processing facilities and none of Smithfield’s slaughtering facilities.

Read more about the restructuring plan here