“You’re going to win so much with Donald Trump as your President that you’re going to get tired of winning!”
It seems as though that might have been an understatement.
After only one year of Trump, the economy is through the roof. Major announcements happen every day, and we just got another big one:
Campbells Soup is going to be “Made in America” once again!
Here are more details, from The Star:
Campbell Soup will close its factory in Toronto within the next 18 months and shift production to the U.S., a move that will leave 380 workers here without a job.
The factory, on Birmingham St. in Etobicoke, first opened in 1931. It is to close in several stages, according to a statement Wednesday from Campbell’s.
Ana Dominguez, president of Campbell’s operations in Canada, said the decision to close the Toronto plant is partially based on the company’s over-production of soup.
“Simply put, we are in a situation where we can produce a lot more soup than we can sell,” she said in an interview.
The Toronto plant is also the smallest and oldest of Campbell’s plants in Canada, Dominguez said. A statement from the company about the closure stated that it “cannot be retrofit in a way that is competitively viable.”
The decision comes as sales of Campbell Soup plummet due to what the company claims is a shift in the public’s tastes. Last year, Campbell’s CEO Denise Morrison told the Associated Press that people have increasingly chosen fresh produce over canned soup.
But Dominguez said Campbell’s is also trying to diversify the companies it holds, and cited the recent purchase of Pacific Foods last December — a major organic food company — as an example.
“It’s about adapting our business to respond to what consumers are looking for,” she said.
The company statement said the shutdown comes as part of a multi-year plan to cut costs, which it says has been accomplished to the tune of about $345 million.
Three U.S. factories — in Maxton, N.C.; Napoleon, Ohio; and Paris, Texas — will be taking up the slack after Toronto’s factory closes.
Campbell’s said it would offer laid-off Toronto employees job counselling, referral services and other supports. Nonetheless, Dominguez acknowledged that announcing the layoffs was hard.
“It’s been a tough day for us. We just gave some very tough news to very great people here at the company,” she said.