Olymel announced today that it will be closing its Vallée-Jonction, Beauce plant in phases until the end of the year.
It employs 994 people, including 911 union members and 83 managers.
The long-anticipated move will reduce Quebecs hog slaughter capacity, forcing producers to either look elsewhere, sell weaners instead of market hogs or quit.
The pork board and the province are talking about setting up a fund to assist farmers to retire from the business.
The company’s management said the decision was made to stop losses in the fresh pork sector, which have amounted to more than $400 million over the past two years and are jeopardizing the entire company’s profitability.
