Pilgrim's Pride to close corporate headquarters - KTRE.com | Lufkin and Nacogdoches, Texas

Pilgrim's Pride to close corporate headquarters

PITTSBURG, TX (PRNewswire) - Pilgrim's Pride Corporation (NYSE: PPC) today announced plans to close its corporate headquarters building in East Texas and a satellite corporate office in Atlanta as part of its continued integration with JBS USA. Both offices are expected to close within approximately 60 days as most corporate functions are consolidated at JBS USA's headquarters in Greeley, Colo.

Many Pilgrim's Pride employees at the two corporate offices have been offered positions at other company facilities. However, the closure of the two offices will lead to the elimination of 158 positions at the Pilgrim's Pride headquarters in Pittsburg, Texas, and the elimination of 55 jobs at the satellite corporate offices in suburban Atlanta. Most employees whose jobs are being eliminated were notified over the past two weeks. The layoffs are expected to begin around June 14, 2010, and will affect both salaried and non-salaried employees in all functional areas. The company will provide severance benefits, including outplacement assistance, to affected salaried and salaried non-exempt employees. There will be no impact on Pilgrim's Pride processing facilities or operations, as none of the jobs being eliminated are production-related.

"We recognize that the closing of these two offices, particularly our headquarters facility in Pittsburg, will create pain and uncertainty for those employees who are being laid off, as well as the local community," said Don Jackson, Pilgrim's Pride president and chief executive officer. "Decisions like this are always very difficult because they impact the lives of employees who have given so much to Pilgrim's Pride over the years. While we will continue to maintain a very large presence in East Texas through our production operations in Mt. Pleasant and a smaller administrative office in Pittsburg, most corporate functions will be relocated to JBS USA's headquarters by June. This consolidation is critical to our ability to realize the full benefits of our integration into JBS."

About Pilgrim's Pride

Pilgrim's Pride Corporation employs approximately 41,000 people and operates chicken processing plants and prepared-foods facilities in 12 states, Puerto Rico and Mexico. The Company's primary distribution is through retailers and food service distributors. For more information, please visit http://www.pilgrimspride.com.

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