June 14, 2023

Canadian pork processor HyLife implements layoffs due to challenging market conditions

Canadian pork processor HyLife Ltd has made the decision to lay off 87 employees, citing various factors such as inflation, rising production costs, market uncertainty in the swine and pork sectors, and the negative impacts of foreign exchange rates, Meat + Poultry reported.

The company announced the layoffs on June 9, highlighting the need for increased efficiency in light of these challenges.

Grant Lazaruk, president and chief executive officer of HyLife, said it is important to restructure the company to adapt to the current global conditions, adding that over the last several months, these difficulties have become increasingly pressing and have created a situation where HyLife needs to be more efficient.

The layoffs represent approximately 3.5% of HyLife's workforce, with the majority of the affected positions being administrative roles. The impact on product operations is expected to be minimal, and the positions range from director level to term employees supporting Canadian operations.

HyLife has committed to working with the affected employees to ensure they receive proper severance packages. Additionally, the company has offered employment resources to support those individuals during this transition period.

In recent developments, HyLife announced the sale of its pork processing facility in Windom, Minnesota, which resulted in the loss of staff. Furthermore, in April, three subsidiaries of HyLife Ltd filed for Chapter 11 bankruptcy protection, reflecting the challenging circumstances faced by the company.

-      Meat + Poultry