Tyson Foods (NYSE:TSN) is expected to lose hundreds of employees when it consolidates corporate offices in Arkansas next year, according to people familiar with the matter who spoke to the Wall Street Journal. The beef and poultry producer is closing two offices in Illinois and one in South Dakota.
The company planned to close its offices in Chicago, Downers Grove, Ill., and Dakota Dunes, S.D., which currently house many about 1,000 employees.
Tyson granted workers until November 14 to decide if they would relocate to the company’s Springdale, Ark., headquarters in early 2023.
The closures are part of an effort to consolidate its corporate employees in one place, to improve collaboration and speed up decision making.
This week, Tyson announced Brady Stewart as Group President, Fresh Meats, who will begin his new role at the start of the new year. Stewart will report to President and Chief Executive Officer Donnie King and will be responsible for strengthening the competitiveness of the company’s beef and pork businesses through innovation, technology, data and analytics. Stewart’s focus will also include optimizing business processes and building efficiencies in the operational and commercial activities of the business.
“Brady is a well-respected, proven industry leader who will help position us for continued success,” said Donnie King, Tyson Foods President and Chief Executive Officer. “His background in building business strategies that drive outcomes and identify efficiencies across complex supply chains is critical for this role.”
Stewart brings more than two decades of experience in the protein industry. He joins the company from Smithfield Foods where he has served as chief operating officer since 2021.
TSN dipped 30 cents a share to $60.46.
