CAMDEN (dpa-AFX) - Campbell Soup Company (CPB), Tuesday announced a planned closure of Tualatin, Oregon plant and a size reduction in the Jeffersonville, Indiana plant, which might affect 415 employees. The closure is targeted to improve overall efficiency and return on investment.
The company said that operations at Tualatin plant will be closed in phases and will cease operation by July 2026, as it no longer supports increased customer demand and continued growth of business. The first phase will impact 120 of its 330 employees in August 2024.
Meanwhile, Jeffersonville will continue to produce regional snacks, whereas the production of kettle chips will be shifted to Charlotte and Hanover plants by July 2024. The change will impact approximately 85 of the 230 employees.
Additionally, the company plans to invest around $230 million and create 210 new jobs through fiscal year 2026.
Currently, Campbell's stock is moving down 2.07 percent, to $44.40 on the New York Stock Exchange.
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