Lamb Weston closes Washington plant, lays off 400 due to reduced demand from fast-food chains.

Lamb Weston, North America's largest French fry producer and a key supplier to fast-food chains, is facing reduced demand, prompting the closure of a Washington plant and the layoff of 400 employees. The company's shares have dropped 35% this year as fast-food chains like McDonald's report decreased sales and customer traffic. Consumers are opting for smaller fry portions and cooking at home due to rising restaurant prices. McDonald's accounts for 13% of Lamb Weston's sales.

October 08, 2024
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