"Danish Crown is in the midst of a crisis and we are facing radical changes. Our costs are simply too high in relation to our earnings," said chief executive officer Niels Duedahl.
"We are now adapting our organization and focusing 100 per cent on our core business to ensure a better payment to the farmers who own Danish Crown," he said.
In April it announced it will close one of its major slaughterhouses and lay off nearly 1,200 employees by mid-September.
Danish crown said at the time that the number of pigs sent for slaughter has dropped significantly since 2021, making it necessary to streamline production in order to pay Danish farmers a competitive price for their pigs.
