BOJ Governor Signals Gradual Rate Hikes as Japan’s Inflation Nears 2% Target 
Nvidia to Acquire Groq in $20 Billion Deal to Boost AI Chip Dominance 
Oil Prices Hold Steady in Asia as Geopolitical Tensions Support Market 
Mexico Antitrust Review of Viva Aerobus–Volaris Deal Signals Growth for Airline Sector 
China to Tighten Crude Steel Output Controls and Export Regulation Through 2030 
BOJ Minutes Reveal Growing Debate Over Interest Rate Hikes and Inflation Risks 
Japan Approves Record ¥122.3 Trillion Budget as Takaichi Seeks Fiscal Balance 
California Regulator Probes Waymo Robotaxi Stalls During San Francisco Power Outage 
BlackRock-Backed Global Ports Deal Faces Uncertainty Amid Cosco Demands 
John Carreyrou Sues Major AI Firms Over Alleged Copyrighted Book Use in AI Training 
Boeing Wins $2.04B U.S. Air Force Contract for B-52 Engine Replacement Program 
Taiwan Stock Market Ends Higher as Semiconductor and Energy Shares Lead Gains 
Sanofi to Acquire Dynavax in $2.2 Billion Deal to Strengthen Vaccine Portfolio 
Japan Revises Economic Growth Forecast as Stimulus Fuels Consumption and Investment 
FTC Praises Instacart for Ending AI Pricing Tests After $60M Settlement 
Waymo Plans Safety and Emergency Response Upgrades After San Francisco Robotaxi Disruptions 
Hanwha Signals Readiness to Build Nuclear-Powered Submarines at Philly Shipyard for U.S. Navy 
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.”
