Tyson Foods Inc will terminate about 262 employees in South Dakota who chose not to relocate to its headquarters in Arkansas, showing widespread resistance to the move, the company confirmed on Friday.
CHICAGO, June 2 - Tyson Foods Inc
The layoffs remove some key executives at a time the U.S. meatpacker is seeking to cut costs in the face ofrelocate all corporate employees The Dakota Dunes office has about 500 employees total, according to the company, meaning only about half agreed to make the move. Tyson said it is "extremely grateful" for those heading to Arkansas.
Tyson last month posted a surprise second-quarter loss and cut its full-year revenue forecast amid slowing consumer demand.
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