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Stock impact report

Tyson Foods to indefinitely suspend operations at Waterloo pork plant as virus keeps workers away [MarketWatch]

Tyson Foods, Inc. (TSN) 
Last tyson foods, inc. earnings: 2/6 07:30 am Check Earnings Report
Company Research Source: MarketWatch
Tyson Foods Inc. said Wednesday it is suspending operations at its Waterloo, Iowa pork plant indefinitely this week, after it became impossible to keep it open with many workers absent due to the coronavirus pandemic. The company will ask all 2,800 workers to come to the plant for COVID-19 testing. "The closure has significant ramifications beyond our company, since the plant is part of a larger supply chain that includes hundreds of independent farmers, truckers, distributors and customers, including grocers," Chief Executive Steve Stouffer said in a statement. "It means the loss of a vital market outlet for farmers and further contributes to the disruption of the nation's pork supply." The company will pay workers while the plant is closed. The timing of a reopening depends on the outcome of testing, it said. The company's other meat and poultry plants remain open but are running at reduced levels of production. Shares were slightly lower premarket, but are down 32% in the year to d Show less Read more
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