US food conglomerate and meatpacker Tyson will cut about 10% of its corporate workforce and 15% of the company’s senior leadership positions, according to CEO Donnie King.
"We will drive efficiency by focusing on fewer initiatives with greater intensity and removing duplication of work," King explained.
The cuts are the latest cost-cutting move as the corporation strives to improve outcomes and confronts diminishing profitability. Reuters reported that the majority of impacted staff are scheduled to be notified in the next week.
Tyson had around 6,000 US employees in corporate offices as of October 1, 2022, and 118,000 workers at non-corporate facilities like meat factories and warehouses.
A company spokesperson said that the posts lost in senior leadership are mainly vice presidents and senior vice presidents.
Some corporate workers already Tyson when it announced in October that all corporate jobs would be moved to its Springdale, Arkansas headquarters.
For some time now, the business has battled to improve results in its poultry segment, and in March it announced the closure of two U.S. processing units employing over 1,700 people.