Smithfield Foods to close US production plant

Core Insights - Smithfield Foods is closing its Springfield plant in Massachusetts, affecting 190 employees, with layoffs scheduled between April and September [1] - The Springfield facility, which produces dry sausage, will cease operations in August, with production being relocated to other unnamed plants [2] - In addition to the Springfield closure, Smithfield previously announced the shutdown of a facility in Charlotte, North Carolina, impacting 107 jobs, and a ham-boning facility in Altoona, Iowa, affecting 314 jobs [3] Company Strategy - Smithfield Foods is consolidating production to enhance efficiency, moving operations from the Springfield plant and other facilities to locations in Illinois, South Dakota, and Nebraska [2] - The company is also expanding its product portfolio through acquisitions, such as the recent agreement to acquire Nathan's Famous hot-dog brand, which it has licensed since 2014 [3][4] - The CEO of Smithfield emphasized that the acquisition will leverage the company's manufacturing scale and marketing strength to elevate the Nathan's Famous brand [4]