| WSB News |
Pilgrim's Pride to shut Ga. plant
PITTSBURG, Texas (AP) Pilgrim's Pride Corp. said Friday that 900 Georgia jobs are among the 3,000 it will cut as it shuts down operations at three of its 32 chicken processing plants.
The closures, including the Douglas plant, will reduce the company's chicken production by roughly 10 percent and its workforce about 7 percent.
The move also affects 430 independent chicken farmers, 140 of them in Georgia, the company said.
The cuts are designed to save the company $110 million a year as part of an ongoing restructuring. The company filed for Chapter 11 protection in December under heavy debt.
Pilgrim's Price expects the closures to cost $35 million, not including asset write-downs it may take in the second quarter.
The Douglas plant was run by Gold Kist Inc., acquired by Pilgrim's Pride in 2007 for $1.3 billion.
The plants to close by mid-May also include those in El Dorado, Ark.; and Farmerville, La.
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