Tyson foods cuts costs to increase profits
US - Cost cutting efforts by Tyson Foods are beginning to pay off, the company announced yesterday.
7 September 2006
2 minute read
Tyson, one of the largest US meat companies, said its $200m cost-cutting efforts were on target and that they would result in a positive profit return by the end of the year. Recently, Tyson has faced two consecutive quarter profit losses.
The measures include reducing staff, closing plants, consolidating operations and using successful products in different sectors.
The problems that have hit Tyson’s profits and margins have plagued the rest of the meat industry. Earlier this year a glut in the meat market caused the price of meat to fall. The decline was largely due to the effects of Bovine Spongiform Encephalopathy (BSE) and avian influenza on the US meat market.
Source: Food-production Daily
The measures include reducing staff, closing plants, consolidating operations and using successful products in different sectors.
The problems that have hit Tyson’s profits and margins have plagued the rest of the meat industry. Earlier this year a glut in the meat market caused the price of meat to fall. The decline was largely due to the effects of Bovine Spongiform Encephalopathy (BSE) and avian influenza on the US meat market.
Source: Food-production Daily
