Hormel Foods to cut 250 jobs as part of corporate restructuring

Core Insights - Hormel Foods is planning to cut 250 corporate and sales positions as part of a corporate restructuring to align resources with strategic priorities and support future growth [1][2] - The company is focusing on areas such as technology, innovation, food safety, and quality to strengthen its overall business [2] - Hormel expects restructuring charges between $20 million and $25 million due to pension benefits, cash severance payments, stock compensation expenses, and employee benefit costs [3] Company Challenges - Hormel Foods is facing declining sales and rising costs, influenced by inflationary pressures and disruptions such as bird flu and a fire at an Arkansas peanut butter plant [4] - The company recently announced the departure of its CFO and the return of former CEO Jeff Ettinger in an interim capacity [4] Industry Context - The food and beverage industry has experienced significant job cuts in 2025 as companies adjust to slowing demand, with notable firms like Nestlé, General Mills, and Molson Coors also eliminating positions [5] - Nestlé announced plans to cut 16,000 jobs, representing about 6% of its global workforce of 277,000 [5]