Hormel Foods is the latest Minnesota company to reduce its workforce
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Austin-based Hormel Foods Corporation announced it would cut around 250 jobs as part of a restructuring. It’s the latest Minnesota company to announce workforce reductions this year, following Target and Cargill.
Hormel says it plans to eliminate jobs through a voluntary early-retirement program for some workers. It will also conduct layoffs and close some open roles.
“We’re directing resources toward technology, innovation, food safety and quality,” Hormel Foods President John Ghingo said in a statement.
The company, which makes products like Spam and Skippy peanut butter, expects to spend over $20 million as it restructures.
It expects to pay out pensions, severance and other benefits from its fourth quarter of FY25 through its first quarter of FY26.
“Each person who is leaving has contributed to our organization, our culture and our success. We’re grateful for everything they’ve done,” Interim Chief Executive Officer Jeff Ettinger said.
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