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Companies with offices in Chicago have moved their offices, and Tyson Foods is the latest to join Boeing, Caterpillar, and Citadel.
Last Wednesday, the poultry producer announced that it would reunite its employees at its global headquarters in Arkansas.
Accordingly, three offices in downtown Chicago, Downers Grove, Illinois, and Dakota Dunes in South Dakota will be closed.
More than 1,000 employees will begin the move early next year, where they will work in three offices.
Tyson Foods CEO Donnie King released a statement saying:
“Bringing our talented corporate members and businesses together under one roof unlocks greater opportunities to share perspectives and ideas, while enabling us to act quickly to solve problems and provide the innovative products solutions that our customers deserve and value.”
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Losing Tyson Foods was another blow to Chicago.
The city has already built a reputation for its crime, something McDonald’s CEO Chris Kempczinski has criticized.
The headquarters of the fast food chain are currently located in Chicago.
Kempczinski recently claimed that crime is spreading to every corner of the city and revealed that people often ask what’s going on in the city.
He spoke to the Chicago Economic Club last month about the plight of the city, saying:
“We have violent crime that’s happening in our restaurants… we’re seeing homelessness issues in our restaurants.”
“We’re having drug overdoses that are happening in our restaurants.”
“So we see in our restaurants, every single day, what’s happening in society at large.”
Chris Kempczinski said it is difficult to recruit people for the McDonald’s office.
“One of the things that I hear from our employees [is] … ‘I’m not sure it’s safe to come downtown.’”
McDonald’s said it will stay in Chicago.
However, other companies are more tight-lipped about why they left the city.
Tyson Foods said their move has nothing to do with crime in Chicago.
Other companies in Chicago
Last May, Boeing announced it was leaving Chicago for Washington, DC.
However, the company did not contribute to the decision of the crime.
Instead, analysts said the change signaled the company had lost the commercial race to Airbus.
They suggested that Boeing wanted to be viewed primarily as a defense and space company.
Boeing was based in Seattle from its inception in 1916 until 2001.
Caterpillar and Citadel also announced they were leaving Chicago and moving to various locations outside of Illinois.
The construction company was based in Deerfield, a suburb of Chicago.
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Like other companies, Tyson Foods also had a tough year due to inflation.
The company revealed that demand for chicken was extremely strong, while the more expensive cuts of beef were softened.
In the last quarter, the average selling price of chicken by weight decreased, while the average selling price of beef and pork increased.
The drop in prices can be attributed to the fact that consumers are stocking up on some premium cuts.
While consumer demand for meat has remained strong, consumers are switching from one meat to another due to inflation.
Tyson Foods plans to launch new, more affordable options while adding new, larger packaging for consumers looking for value.
Meanwhile, the company’s shares are down about 25% for the year.