Perdue Farms has announced its decision to shut down a processing facility in Monterey, Tennessee, impacting over 430 employees.
The company officially disclosed the closure in a press release on Thursday, stating that the plant would cease operations by late March.
They cited shifts in market demand and changes in production and supply methods as significant factors influencing the decision regarding the Monterey facility in recent times.
Known primarily for its chicken products, Perdue has committed to supporting the employees affected by this closure.
The company is offering severance packages that include additional compensation as well as assistance with job placement to help those impacted by the shutdown.
CEO Kevin McAdams addressed the situation, stating, “This decision, while extremely difficult, is imperative for Perdue to remain competitive and sustainable in the future.”
He emphasized the necessity of making tough decisions now to ensure the company can continue providing services to its customers and consumers and to foster growth in the long run.
Perdue Farms, headquartered in Salisbury, Maryland, was established in 1920.
The company employs over 20,000 people and generates more than $10 billion in annual revenue, specializing in poultry, livestock, and various agricultural products.
