Connect with us

Hi, what are you looking for?

Stock

Rural town braces for Tyson plant closure as manufacturing booms elsewhere

Earlier this month in Noel, Missouri — population 2,124 — Tyson Foods hosted a job fair for the 1,500 chicken plant workers it plans to lay off in two months.

David Handy, a union steward and pallet jack operator at the site, said he pushed through his Covid-19 symptoms to make the 4 p.m. start time. When he arrived, there was a single employer offering positions that Handy said would’ve required a 60-mile commute.

“Wasn’t nothing for me,” said Handy, who stayed five minutes before returning home and calling out sick for the job he has worked for five years.

The Noel plant, which Tyson acquired from defunct meat processor Hudson Foods in the 1990s, is one of six whose closures the company announced this year as it looks to shore up its business. While inflation has fallen, grocery prices remain high and meat sales have slowed industrywide, contributing to Tyson’s $417 million loss in the last quarter.

The U.S. economy has seen a recent spike in business investment, partly fueled by historic levels of federal spending on domestic manufacturing, including in rural areas. But it’s unclear whether that boom will come fast enough for the more than 4,600 Tyson plant workers being cut in Missouri, Indiana, Arkansas and Virginia this year and next — layoffs that highlight the sometimes risky entanglements between small communities and big industrial employers.

This post appeared first on NBC NEWS

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Investing

    I experimented with various strategies that mainly involved long options, which would eventually depreciate and eat away at my capital.   How to start...

    Latest News

    A 23-year-old German-Israeli woman who was kidnapped from the Nova music festival by Hamas militants on October 7 has been declared dead, the Israeli...

    Investing

    (Most traded options are American options. The underlying can be bought or sold anytime . However ‘European’ options, which can only be exercised on...

    Editor's Pick

    IoT Complete is a fast and easy way to connect products. The fully integrated service enables enterprises to connect their products from certified connectivity...

    Disclaimer: gorgeousincome.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 gorgeousincome.com