Source: New York Post
“A major McDonald’s french fries supplier is slashing jobs as cash-strapped customers steer clear of the fast food industry amid inflated prices. Lamb Weston, the largest producer of french fries in North America, announced last week that it is cutting 4% of its global workforce and curtailing production lines following a dismal earnings report, as first reported by CNN. The Eagle, Idaho-based company closed a plant in Connell, Wash., on short notice — resulting in the loss of 375 jobs, according to NBC NonStop Local. ‘Restaurant traffic and frozen potato demand, relative to supply, continue to be soft, and we believe it will remain soft through the remainder of fiscal 2025,’ Lamb Weston CEO Tom Werner said in a statement. ‘Together, we expect these actions will help us better manage our factory utilization rates and ease some of the current supply-demand imbalance in North America.'” (10/08/24)