Thursday, February 8, 2018

Tyson shares profits with workers

 Tyson Foods made so much money in the last three months that it is sharing $100 million with its workers - $1,000 each for full-time employees, $500 each for part-timers.

The 100,000 front-line employees do not qualify for the company’s annual bonus.

The company said it will also use the expected $300 million in tax savings to fund innovation, training and development, and capital projects that strengthen operations and plant communities.

Tyson said its first-quarter net income climbed to $1.63 billion from $593 million. Sales in the quarter rose to $10.23 billion from $9.18 billion.

Sales by volume increased 4.5 percent in beef, declined 2.6 percent in pork, rose 7.3 percent in chicken and increased 11.6 percent in prepared foods.