Tyson Foods Inc. announced the closing of its Ponca City, Okla., processed meats plant. In an effort to improve operational efficiency, production of the plant's deli-style luncheon meats and ham products will be shifted to Tyson plants in Buffalo, N.Y., Cherokee, Iowa, and Houston.
The facility closing is expected to result in a non-cash charge to Tyson's fiscal second quarter earnings of approximately $0.02 per share as reported in the company’s release.
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Tyson officials have been in contact with potential buyers of the plant, which has been in operation since 1995, but no sale has been confirmed.
On March 27, 580 plant employees received a 60-day notice as required by law. However, Tyson says the actual termination of operations and displacement of workers will take place gradually. The closing process will begin in late May and is expected to be completed sometime in July or August.
Representatives of Tyson's Human Resources staff will meet with affected Ponca City workers to discuss other employment opportunities within the company. They will also work cooperatively with the Oklahoma Employment Security Commission, which will provide information about unemployment benefits and other job opportunities.
