Tyson Foods meat processor will move about 500 corporate employees based on their Chicago Office and Downers Grove Innovation Center to its global headquarters in Springdale, Arkansas, the company said in a news release Wednesday.
Tyson is also moving employees to Arkansas from Dakota Dunes, South Dakota. A “phased relocation” of employees from those three locations it will start early next year, the company said.
About 1,000 employees in total will be affected by the consolidation, Tyson spokesman Derek Burleson said in an email.
The company’s offices in Chicago are located at 400 S. Jefferson Street. Tyson acquired that Downers Grove office and innovation center when he bought Hillshire Brands. for nearly $8 billion in 2014. by Tyson The Dakota Dunes location is the corporate office for its beef and pork business, Burleson said.
In 2020, the company cut about 500 jobs in Chicago and Arkansas as part of a restructuring program.
Burleson said the company does not plan any layoffs associated with the consolidation. Compensation will be determined “on an individual basis” for those who choose not to move to Arkansas, she said. The company is also planning an expansion and remodel of its Arkansas facility.
“Bringing the talented members of our corporate team and businesses together under one roof opens up greater opportunities to share perspectives and ideas, while allowing us to move quickly to solve problems and provide the innovative product solutions our customers deserve and value.” CEO Donnie King said. in a sentence.
In August, Tyson reported third-quarter revenue of nearly $13.5 billion, up 8% from the same period a year earlier. However, the company’s net income was flat year-over-year. In an earnings call, King told investors the sales gains were largely due to inflation in chicken and prepared food prices.
Tyson’s consolidation follows a recent series of corporate departures from Chicago, including the headquarters of Citadel, boeing Y Caterpillar this year.
Last month, McDonald’s CEO Chris Kempczinski sounded the alarms on the effects of crime on business in Chicago and called for greater collaboration between business leaders and the public sector to address the problem. Mayor Lori Lightfoot fired back, saying that more than a hundred businesses have moved or opened in Chicago in the last year and a half.
Despite Kempczinski’s comments about the business climate downtown, McDonald’s announced plans the same day to move 120 jobs from Romeoville to the company’s West Loop headquarters.