Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Airline Loyalty Programs Face New Uncertainty as Visa–Mastercard Fee Settlement Evolves 
Netflix Nearing Major Deal to Acquire Warner Bros Discovery Assets 
Amazon Italy Pays €180M in Compensation as Delivery Staff Probe Ends 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Sam Altman Reportedly Explored Funding for Rocket Venture in Potential Challenge to SpaceX 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Magnum Audit Flags Governance Issues at Ben & Jerry’s Foundation Ahead of Spin-Off 
Momenta Quietly Moves Toward Hong Kong IPO Amid Rising China-U.S. Tensions 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Tyson Foods is set to shut down four more manufacturing facilities for its chicken products. The American food processing company was forced to make this move to reduce costs.
Tyson Foods said the affected factories are in North Little Rock, Arkansas; Dexter, Missouri; Noel, Missouri, and Corydon, Indiana. The company will transfer all the work performed in the mentioned facilities to new locations closer to its customer base.
As per Fox Business, the closure of the four plants was already revealed a few months ago. In April, the company announced it would lay off 10% of corporate workers and 15% of those in senior leadership roles. Tyson Foods also said at that time that it would terminate corporate staff working in South Dakota and Chicago who refused to relocate to the firm’s HQ in Arkansas.
The food manufacturing firm also closed down its chicken factory in Van Buren, Arkansas, in May, resulting in the loss of jobs for around 969 workers. Tyson Foods said it is doing this to improve the performance of its chicken business. In any case, Associated Press News reported that Tyson Foods will move its production to other sites and stop operations at the four facilities in the first half of 2024.
“While current market dynamics remain challenging, Tyson Foods is fully committed to our vision of delivering sustainable, top-line growth and margin improvement,” Tyson Foods’ president and chief executive officer, Donnie King, said in a press release for the company’s third quarter 2023 results. “I am encouraged by the improvements we made this quarter, including our Tyson Core Business lines that continue to outpace our peers in volume growth.”
He added, “The difficult decision to close four chicken facilities demonstrates our commitment to bold action and operational excellence as we drive performance, including lower costs and improving capacity utilization, and build on our strategy of making Tyson Foods stronger in the long term.”
