Tyson Foods Launches Low-Cost, High-Quality Childcare Initiatives

Rhea-AI Summary

Tyson Foods (NYSE: TSN) is enhancing its employee benefits with a new $3.5 million childcare facility in Humboldt, Tennessee, set to open in 2023, supporting up to 100 children. This initiative is part of the company's strategy to attract and retain frontline workers and includes a partnership with KinderCare for operational support. Additionally, Tyson is implementing programs for free childcare at its Amarillo plant. These efforts aim to improve recruitment and retention rates, in alignment with Tyson's goal of becoming the most sought-after workplace.

Positive

• Investing $3.5 million in an on-site childcare facility in Humboldt to support up to 100 children.
• Partnership with KinderCare to operate the childcare facility, subsidizing costs for employees.
• Additional free childcare program for second shift workers at Amarillo beef plant, enhancing employee benefits.
• Efforts contributing to improved recruitment and retention rates of frontline workers.

Negative

• None.

Efforts further company goal of being the most sought-after place to work

HUMBOLDT, Tenn., Dec. 21, 2021 (GLOBE NEWSWIRE) -- Tyson Foods (NYSE: TSN) is taking another step in its efforts to become the most sought-after place to work by providing greater access to affordable childcare for frontline workers and their families.

The company plans to build an on-site childcare and learning facility at its new Humboldt, Tennessee, poultry processing plant, and recently announced a program at its Amarillo, Texas, beef plant, to work with two local providers to provide free childcare to the children of second shift workers.

The $3.5 million Humboldt facility, expected to be operational in 2023, will support up to 100 children, five years of age and younger, and employ a staff of 18. Called Tyson Tykes, it will be operated as an early childhood learning center by KinderCare and subsidized by the company to lower the cost for Tyson team members.

A study by Center for American Progress states the national average cost of care for one child in a center amounts to about $10,000 per year, which exceeds what most families with young children can afford. Research also shows children enrolled in early childhood education programs have greater high school graduation rates, increased IQ scores, higher career earnings and are less likely to commit a crime as they enter adulthood.

“For nearly a century, ‘care’ has been at the heart of Tyson culture,” said John R. Tyson, executive vice president and chief sustainability officer of Tyson Foods. “These childcare pilots reflect that culture as well as our goal of becoming the most sought-after place to work. Over the past few months, as part of our efforts to recruit and retain frontline team members, we’ve also piloted more flexible work hours, raised wages and benefits, provided $50 million in year-end bonuses and in January, will start providing paid sick leave.”

The efforts are helping improve the company worker recruiting and retention rates.

Tyson’s Humboldt complex, which includes a processing plant, hatchery, and feed mill, currently has a staff of more than 1,000 people but is expected to eventually employ 1,500.

The Tyson beef plant in Amarillo employs more than 4,000 people. The company recently awarded nearly $400,000 to the Wesley Community Center and Maverick Boys and Girls Club of Amarillo to refurbish their facilities to accommodate the children of Tyson team members. The funding will also help provide transportation, increased security, commercial refrigerators, cots, and tutoring. Each facility will support up to 40 children and Tyson expects to invest close to $500,000 to cover tuition for team members participating in the program.

About Tyson Foods, Inc.
Tyson Foods, Inc. (NYSE: TSN) is one of the world’s largest food companies and a recognized leader in protein. Founded in 1935 by John W. Tyson and grown under three generations of family leadership, the company has a broad portfolio of products and brands like Tyson^®, Jimmy Dean^®, Hillshire Farm^®, Ball Park^®, Wright^®, Aidells^®, ibp^® and State Fair^®. Tyson Foods innovates continually to make protein more sustainable, tailor food for everywhere it’s available and raise the world’s expectations for how much good food can do. Headquartered in Springdale, Arkansas, the company had approximately 137,000 team members on Oct. 2, 2021. Through its Core Values, Tyson Foods strives to operate with integrity, create value for its shareholders, customers, communities and team members and serve as a steward of the animals, land and environment entrusted to it. Visit www.tysonfoods.com.

MEDIA CONTACT: Alicia Buffer | Alicia.Buffer@tyson.com | 479-290-1349

Category: IR

A PDF accompanying this announcement is available at http://ml.globenewswire.com/Resource/Download/db87ca46-829d-494b-8895-693f070636c7

FAQ

What is Tyson Foods' new childcare initiative in Humboldt, TN?

Tyson Foods is investing $3.5 million to build an on-site childcare facility at its Humboldt, TN poultry processing plant, expected to open in 2023.

How many children will the Humboldt childcare facility support?

The Humboldt childcare facility will support up to 100 children, ages five and younger.

What financial support is Tyson providing for childcare services?

Tyson Foods is subsidizing the costs of the childcare facility to make it more affordable for its team members.

What programs are offered at the Amarillo beef plant for childcare?

Tyson Foods announced a free childcare program for second shift workers at its Amarillo beef plant, working with local providers.

What are the recruitment impacts of Tyson's childcare initiatives?

Tyson's childcare initiatives are aiming to improve the recruitment and retention rates of its frontline workers.