Smithfield To Shut Plants, Cut Jobs

Smithfield Foods said Feb. 17 it would close six processed meat plants and eliminate 1,800 jobs while retaining its current hog slaughter capacity as it restructures its pork group. Smithfield, the largest U. S. hog and pork producer, makes more than 50 brands of pork and turkey products including John Morrell, Eckrich and Armour. None

Credit woes wound Pilgrim’s Pride

Pilgrim’s Pride Corp. shares lost as much as 29 per cent on Oct. 6, spurred by new fears over the U. S. chicken producer’s ability to secure credit in a growing financial markets crisis. Pilgrim’s Pride fell far deeper than a broader market sell-off, with the Dow down about six per cent that day on