Tyson Foods to Lay Off 500 Workers After Sales Miss

Meats-producer Tyson Foods (NYSE: TSN) reported adjusted first quarter 2020 earnings per share of $1.66 this morning, and Q1 sales of $10.8 billion. Noel White, Tyson Foods' CEO, noted that these "overall results in the first quarter of fiscal 2020 were in line with expectations," and said he is "optimistic about fiscal 2020" as a whole .

And yet, Tyson is laying off 500 workers. Why?

Image source: Getty Images.

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Source Fool.com