Tyson Foods is laying off 15% of its senior leadership and 10% of its corporate staff, according to reports.
Bloomberg reported Thursday that Chief Executive Officer Donnie King announced the decision in an e-mailed memo to affected staff. “This is not an easy day, and we recognize it will be difficult for our team members,” he stated in the memo, adding that the move is part of an effort to cut costs.
In February, the company reported Q1 2023 results 70% lower than the same period in 2022. King said that challenges, including market dynamics and some operational inefficiencies,…
