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Major NW Employer Was Biggest Wall Street Loser. Consumers …

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Even so, Lamb Weston’s 28% slide was striking: It was the day’s biggest loser. Bausch Health Companies Inc. was second, at 23% and Tesla was fifth, at 12.3%, according to Yahoo Finance.

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Fast-Food Slowdown Burns French Fry Giant Lamb Weston - Inc.com

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Oct 9, 2024 · Reducing headcount, closing the aging plant, and slowing output in coming months, said Lamb Weston CEO Tom Werner, should generate $55 million in pretax savings in fiscal …

inc.com

FAQs about Lambs - Whoops! One of our employees released our biggest. Coupon?

How many employees does Lamb Weston have?

The company’s total workforce numbers about 10,700 workers. Lamb Weston has a significant presence in the Tri-Cities area beyond the Connell plant, employing more than 2,500 people in Benton and Franklin counties. It’s unclear if any other local workers are affected, apart from those in Connell. ...

What is Lamb Weston doing with laid off workers?

The company is encouraging the laid off workers to apply for other jobs in Lamb Weston, offering outplacement assistance, and holding an internal job fair and job fairs with other companies, the company said. The city also plans a job fair. Laid off workers still are being paid for 60 days in compliance with federal law. ...

How did Lamb Weston perform in Q4?

Lamb Weston disclosed net sales for the quarter fell 5% to $1.6 billion while net income and diluted earnings per share were both down 74%, to $129.6 million, and 89 cents, respectively, in its fourth quarter report. The quarter and its fiscal year ended June 30. ...

Why did Lamb Weston's sales decline?

The declining sales are partly because of declining restaurant traffic in the United States. McDonald's, which accounts for 13 percent of Lamb Weston's sales, reported decreased worldwide sales in July. While McDonald's has tried to increase its customer traffic, the measures have not helped the French fry supplier. ...

Who is Lamb Weston?

Lamb Weston is the target of a class action shareholder lawsuit related to its share prices. The Cleveland (Ohio) Bakers and Teamsters Pension filed suit June 13 in federal district court in Boise. The case aims to represent the pension and other investors who bought stock in the between July 2023 and April 2024. ...

Why is Lamb Weston struggling?

The supplier that produces French fries for McDonald's is facing challenges amid falling sales. Lamb Weston, which is the fast-food chain's largest supplier of fries, has been impacted by reduced consumer demand as well as restaurant traffic. ...