Smithfield Foods to Cut 1800 Jobs

12:45 PM, Feb 17, 2009   |    comments
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In an effort to streamline business, Smithfield Foods plans to lay off 1,800 workers and close six factories.

The plants will close by the end of the year.

Officials say the move will save the company $125-million a year by 2011.

To help fund the restructuring, the company will take a pre-tax charge of $85-million in its fiscal third-quarter that ended February 1, as well as another $30 million over the next three quarters.



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