Pilgrim's Pride Announces First Phase of Integration with JBS USA
Company Eliminates Approximately 230 Corporate and Administrative Positions as Part of Consolidation Plan
PITTSBURG, Texas, Jan. 5 /PRNewswire-FirstCall/ -- Pilgrim's Pride Corp. (NYSE: PPC) today announced the elimination of approximately 230 corporate and administrative positions across the organization under the first phase of its integration with JBS USA, which acquired majority control of Pilgrim's Pride on December 28, 2009.
Approximately 160 of the primarily salaried and salaried non-exempt positions being eliminated are based at the company's headquarters in Pittsburg, Texas, or in nearby Mt. Pleasant, Texas. The remaining positions that are being eliminated are spread over nearly a dozen other sites, including Atlanta, Dallas and Broadway, Va. The company will provide severance benefits, including outplacement assistance, to affected salaried and salaried non-exempt employees. There is no direct impact on Pilgrim's Pride's operations or production, as none of the positions being eliminated are production-related.
In addition, the company said it is moving forward with plans to consolidate most corporate functions at JBS USA's headquarters in Greeley, Co. Both companies are continuing to evaluate the needs of their organizations and expect to finalize consolidation plans within the next three to six months.
"We know that these layoffs will create pain and uncertainty for those employees whose jobs were eliminated today," said Don Jackson, Pilgrim's Pride president and chief executive officer. "Decisions like this are always very difficult because they affect the lives of employees who have contributed so much to our company over the years, including during our recent reorganization. At the same time, these changes are absolutely necessary in order to realize the full benefits of our integration into JBS."
About Pilgrim's Pride
Pilgrim's Pride Corporation employs approximately 41,000 people and operates chicken processing plants and prepared-foods facilities in 12 states, Puerto Rico and Mexico. The Company's primary distribution is through retailers and foodservice distributors. For more information, please visit http://www.pilgrimspride.com.
Media Contact: Ray Atkinson Director of Corporate Communications (903) 434-1811 firstname.lastname@example.org Investor Contact: Gary Rhodes Vice President, Corporate Communications and Investor Relations (903) 434-1495
SOURCE Pilgrim's Pride Corp.
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