Hormel to Cut 250 Corporate and Sales Jobs in Restructuring

Overview

• The reductions will come through layoffs, voluntary early retirements and by leaving some open roles unfilled.
• Hormel frames the move as part of its multiyear “transform and modernize” effort after a prolonged profit slump.
• Recent setbacks included a Skippy plant fire, renewed bird flu impacts on Jennie‑O turkeys, a chicken recall and higher inflation, which led to trimmed profit guidance.
• Shares are down about 31% this year and near their lowest level in more than a decade, with only a modest reaction to the announcement.
• The cuts join broader restructuring across major Minnesota employers such as Target and Cargill, reflecting a cooling state labor market.