Friday, February 27, 2009

More Bad Economic News For North Louisiana

When it rain it pours. First the paper mill in Bastrop, the GM plant in Shreveport is in danger and now!!!


Pilgrim's Pride to shut operations at 3 plants
2/27/2009 11:03:47 AM
PITTSBURG, Texas (AP) — Pilgrim's Pride Corp. said Friday it will cut 3,000 jobs, or about 7 percent of its U.S. work force, as it shuts operations at three of its 32 chicken processing plants.
The closures, which will reduce the company's chicken production by roughly 10 percent, are designed to save the company $110 million a year as part of an ongoing restructuring. The company filed for Chapter 11 protection in December under a heavy debt load.
The company expects the closures to cost $35 million, not including asset write-downs it may take in the second quarter.
The plants are expected to close by mid-May. They are in Douglas, Ga.; El Dorado, Ark.;
and Farmerville, La.
The move also affects 430 independent chicken farmers, the company said.
The company also said it would combine its protein salad production operation in Franconia, Pa., with its Moorefield, W. Va., facility. END


Via the Dead Pelican

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