February 18, 2009

Smithfield Foods to Cut 1,800 Jobs

Smithfield Foods (NYSE:SFD) announced a plan on Tuesday to restructure its pork group that involves cutting the number of independent operating companies in the group to three from seven, and closing six plants.
The company expects to cut a net 1,800 jobs in the restructuring. Some workers will be offered transfers to other units, the company said.

Source: CNBC

~News submitted by upthecreek

1 Comment »

  1. Europe and the United States were winning the globalization race until 2008, as master bankers handling the export earnings of other states.

    The flip side of the equation is that the United States and Europe gained cash but lost their bread-and-butter capability – manufacturing.

    Comment by Tom Awtry — February 20, 2009 @ 5:39 am | Reply

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