SPRINGDALE, Ark. — Tyson Foods CEO Donnie King announced on April 26 that the company will downsize senior leadership roles and corporate roles.
5NEWS obtained the letter sent to employees on Wednesday, saying that Tyson is taking steps to simplify its structure. "These efforts have primarily focused on reducing enterprise-wide corporate overhead," King said in the letter.
The announcement states that 15% of senior leadership roles and 10% of corporate roles will be eliminated and that these "discussions with the majority of affected team members" will take place this week.
"This is not an easy day, and we recognize it will be difficult for our team members. While this will require time to process, these decisions are necessary to continue executing our long-term strategy and over time will make Tyson Foods stronger," King said. "Even in this challenging time, I remain optimistic about the bright future of Tyson Foods. Let’s keep focused on becoming the best organization we can be in service of each other and our customers. Thank you for all you do."
Lance Turner with Arkansas Business says that the roles being cut speak to the company's current profit margins, "First quarter earnings report that there was really disappointing profit down 71%. Tyson is looking hard at its operational efficiencies, it's faced with rising costs like everybody else is, and it's trying to find ways to further cut those costs."
"We will also continue to look for ways to simplify our organization internationally to execute our global strategy," King said in the memo.
In March 2023, Tyson confirmed that the plant in Van Buren would close within the next few months, sparking protests beginning in mid-April.
On April 10, plant workers protested outside the plant asking for equal treatment compared to supervisors and corporate employees, among other requests.