Perdue Farms to shut down Tennessee plant

DAVID BAUDER

January 17, 2025

MONTEREY, Tenn. (AP) -- Perdue Farms plans to close a processing plant in Tennessee that employs more than 430 people.

In a news release Thursday, the company confirmed that the Monterey facility would close in late March. It said changes in market demand and how the company produces and supplies its products have affected the Monterey plant in recent years.

The company best known for its chicken says it is providing affected workers in Tennessee with severance packages with extra pay and job placement help.

"While this decision is incredibly difficult, it is necessary to ensure Perdue remains fit for the future," CEO Kevin McAdams said in the news release. "We must make challenging choices today to continue to serve our customers and consumers effectively, and to continue to grow our company.

Based in Salisbury, Maryland, Perdue Farms was founded in 1920. It has more than 20,000 workers and annual sales of more than $10 billion, focusing on poultry, livestock and other agriculture.

Recommended

The 7 Red Flags Wall Street Won't Talk About - Ad

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Gold Is Being Reintroduced Into the Monetary System - Ad

Personal finance expert Dave Ramsey has long dismissed crypto, gold and single-stock investing, calling them risky distractions — but new research shows that his disciplined mutual fund approach may have cost him market-beating returns.

Doug Lebda, Founder And CEO Of LendingTree, Dies In ATV Accident

The founder and CEO of LendingTree, tragically passed away this past weekend.

November 18: D-Day For The Dollar

November 18: D-Day For The Dollar - Ad

A quiet shift in U.S. law has just authorized private companies to mint a new form of government-authorized money called the "Dollar 2.0"... and the next major mint hits on November 18. Investors who make the right moves before then could make up to 40X by 2032...

US takes a minority stake company operating one of world's largest lithium mines in Nevada

The U.S. government is taking a minority stake in Lithium Americas, a company that is developing one of the world’s in northern Nevada.

Nebius Vs. Palantir: The AI Infrastructure War At 100x Sales

Wall Street's AI mania has sparked a battle between Nebius (NBIS) and Palantir (PLTR) as investors question where the true value of AI lies.

Gold's Rally Is Rewriting America's Financial Story

Gold's Rally Is Rewriting America's Financial Story - Ad

As inflation lingers and governments wobble, gold keeps breaking records - and U.S. supply is suddenly back in focus. One domestic gold play is riding this trend on multiple fronts.

Trump Ally Laura Loomer Turns on Him Over Qatar Military Base Plan, Calls It a 'Betrayal'

Laura Loomer, a staunch supporter of President Donald Trump, has voiced her dissatisfaction with the president's decision to permit a Qatari air force facility in Idaho.

Trump administration puts on hold $18 billion in funding for New York City infrastructure projects

WASHINGTON (AP) — President Donald Trump's administration said Wednesday it was putting a hold on roughly $18 billion to fund beneath the Hudson River between New York City and New Jersey and the city's expanded project because of .

VanEck and Kinross Both Have Their Eyes on This U.S. Gold Play

VanEck and Kinross Both Have Their Eyes on This U.S. Gold Play - Ad

When a global fund manager and a $12B miner target the same domestic project, investors notice. Strategic deals and breakthrough drill results are fueling a surge of interest in this U.S. name.

Short Squeeze in Silver and Rare Earths, Taco Traders Euphoric, Trump Seeks Diplomatic Path

To gain an edge, this is what you need to know today.

LendingTree CEO and founder Doug Lebda dies in ATV accident

NEW YORK (AP) — LendingTree CEO and founder Doug Lebda died in an an all-terrain vehicle accident over the weekend, the online loaning platform said Monday.

See Why Market Patterns Can Be Misleading

See Why Market Patterns Can Be Misleading - Ad

Crashes always give early warning - just not on CNBC. Our free Bellwether Signal report exposes the 7 indicators that preceded every collapse since 1929. All are red today. Protecting retirement may mean shifting to gold & silver, not more stocks.

What You Need to Know About Annuities

Retirement researchers are often enthusiastic about annuities, but many consumers are reasonably skeptical. Here to discuss basic information about annuities and their pros and cons is Christine Benz, Morningstar’s director of personal finance and retirement planning.

Stock Of The Day: Is SoFi Forming A New Range?

SoFi Technologies appears to be forming a new range. Some traders will buy at the bottom and try to sell at the top.

The Tesla Shock Nobody Sees Coming

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as October 23rd.

Trump's 'Liberation Day Tariffs' Have Backfired, Says Economist Paul Krugman: The Chinese 'Know What They're Doing,' America Doesn't

Nobel Prize-winning economist Paul Krugman is warning that President Donald Trump's "Liberation Day" tariffs are backfiring.

Nvidia Reportedly Bets $2 Billion On Elon Musk's xAI — And Its Own GPUs Will Fuel 'Colossus 2' Gigawatt-Scale AI Supercluster

Nvidia Corp., led by Jensen Huang, is reportedly investing up to $2 billion in Elon Musk's xAI as part of a $20 billion funding round to expand the company's Colossus 2 AI data center in Memphis, deepening ties between two of the most influential players in the global AI race.

America's Next Gold Rush Is Gaining Speed

America's Next Gold Rush Is Gaining Speed - Ad

Record gold prices. Major partners in Nevada and Arizona. Billions in potential resources. The next chapter in America's gold story may already be unfolding - and one U.S. company is at the center of it.

Tesla Stock Is 'Mooning'—Thank Elon? (CORRECTED)

Tesla stock has risen approximately 152% since Musk announced he was leaving D.C., rising from $182 on May 24 to close at $459 on Oct. 1.

First Brands founder resigns amid accounting scandal and billions in missing funds

The founder and CEO of First Brands resigned Monday, weeks after the auto parts supplier filed for bankruptcy protection amid an accounting scandal that has left lenders scrambling for more than $2 billion in missing funds.

On October 16, a powerful new law signed by President Trump will trigger a radical shift in America's money system...

On October 16, a powerful new law signed by President Trump will trigger a radical shift in America's money system... - Ad

When a small group of private companies - not the Fed - will perform a major mint of a new kind of money. And those who act before this new system fully kicks in could see gains as high as 40X by 2032. But those who fail to prepare will be blindsided by this sea change to the U.S. dollar.

Can XRP Hit $1,000? That Would Make It Bigger Than The US Economy

Could XRP (CRYPTO: XRP) ever hit $1,000 — a level that would make its market cap larger than the U.S. economy itself?

Nvidia's Value Reaches $4.6 Trillion, Bitcoin Eyes $120,000: What's Moving Markets Thursday?

On the second day of the U.S. government shutdown, Wall Street remains largely subdued, with indexes showing only slight midday declines after touching fresh record highs at the open.

The 7 Red Flags Wall Street Won't Talk About

The 7 Red Flags Wall Street Won't Talk About - Ad

All 7 historic crash signals are flashing red. Once the public notices, it's too late. Our free Bellwether Signal explains how to protect wealth - and why gold and silver have been the refuge in every crisis. Don't let your retirement go over a cliff.

Stock Market Today: S&P 500, Nasdaq Futures Tumble Ahead Of Big Bank Earnings—Goldman Sachs, JPMorgan, Citigroup In Focus

U.S. stock futures declined on Tuesday following Monday’s reversal rally. Futures of major benchmark indices were lower.

Trump Commutes Former Rep. George Santos' Seven-Year Prison Term: '... Has Been Horribly Mistreated'

President Donald Trump announced on Friday that he commuted the prison sentence of former congressman George Santos (R-N.Y.), ordering his immediate release.

Elon's New Device Could Launch Biggest IPO of the Decade

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

China outlines more controls on exports of rare earths and technology

HONG KONG (AP) — China outlined new curbs on exports of rare earths and related technologies on Thursday, extending controls over use of the elements critical for many products ahead of a meeting later this month between President Donald Trump and Chinese leader Xi Jinping.

Praxis Precision Medicines Stock Doubles - Here's Why

Praxis stock jumps after Phase 3 trials show ulixacaltamide significantly improves essential tremor symptoms and meets key efficacy endpoints.

Gold Is Being Reintroduced Into the Monetary System

Gold Is Being Reintroduced Into the Monetary System - Ad

While the media focuses on political scandals, inflation and coming up with ridiculous acronyms "TACO"... Smart money is tracking a far bigger shift: a gold revaluation is quietly underway. Garrett Goggin, CFA, says this could trigger 100X moves in select miners - and he's identified four with the biggest upside.

What's Behind The Sharp 39% After-Hours Rally In Telomir Pharmaceuticals?

Telomir's stock jumped nearly 39% in after-hours trading following news that its lead compound, Telomir-1, showed potential in reversing cancer-related DNA changes in aggressive prostate cancer models.

Trump's immigration crackdown weighs heavy on the US labor market

Maria worked cleaning schools in Florida for $13 an hour. Every two weeks, she’d get a $900 paycheck from her employer, a contractor. Not much — but enough to cover rent in the house that she and her 11-year-old son share with five families, plus electricity, a cellphone and groceries.

November 18: D-Day For The Dollar

November 18: D-Day For The Dollar - Ad

Copper's Resurgence Prompts Domestic Asset Reactivation

The Fed's rate cut signals boosted copper prices by 1.8%, driven by demand from electrification and supply shortages.

News organizations, including Hegseth's former employer Fox, reject new Pentagon reporting rules

Fox News, the former employer of Defense Secretary Pete Hegseth, has joined a near-unanimous outpouring of news organizations rejecting new rules for journalists based in the Pentagon.

Gold's Rally Is Rewriting America's Financial Story

Gold's Rally Is Rewriting America's Financial Story - Ad

As inflation lingers and governments wobble, gold keeps breaking records - and U.S. supply is suddenly back in focus. One domestic gold play is riding this trend on multiple fronts.

Arrest Made In Threat Against Benny Johnson; Bondi Vows Crackdown On Political Violence

Arrest made over death threat to Benny Johnson as AG Pam Bondi vows a broader crackdown on political violence amid tensions over Antifa and partisan rhetoric.

Patrick Zalupski's group closes on its purchase of the Tampa Bay Rays

NEW YORK (AP) — A group led by Florida-based real estate developer Patrick Zalupski closed on its purchase of the Tampa Bay Rays on Tuesday, finalizing the sale of the team from former owner Stuart Sternberg.

VanEck and Kinross Both Have Their Eyes on This U.S. Gold Play

VanEck and Kinross Both Have Their Eyes on This U.S. Gold Play - Ad

When a global fund manager and a $12B miner target the same domestic project, investors notice. Strategic deals and breakthrough drill results are fueling a surge of interest in this U.S. name.

China's exports to US drop in September, while rise in global shipments hits a 6-month high

HONG KONG (AP) — China's exports to the United States fell 27% in September from the year before, even though growth in its global exports hit a six-month high.

Trending Now