Tyson Foods (NYSE: TSN), the largest meat supplier in terms of sales will have hundreds of its employees from two of its largest business units leaving the company as it is shifting its corporate offices to northwest Arkansas next year, according to a Wall Street Journal report.
Tyson Foods announced in October that it was planning to close its offices in Chicago, Downers Grove, Illinois., and Dakota Dunes. According to the company, around 1,000 employees work at these two locations.
The company had given employees a deadline of November 14 to decide whether they would like to relocate to its Springdale, Arkansas headquarters next year.
According to the WSJ report, Tyson’s “planned office closures are part of an effort to consolidate its corporate employees in one place, to improve collaboration and speed up decision making.”
Wall Street analysts rate TSN stock a Hold based on one Buy, three Holds, and two Sells.
