COPY-Pilgrim's Pride cuts earnings outlook, 300 jobs - KLTV.com - Tyler, Longview, Jacksonville |ETX News

COPY-Pilgrim's Pride cuts earnings outlook, 300 jobs

PITTSBURG, Texas Jobs and the earnings outlook are on the chopping block for the nation's second-largest poultry producer.

Pilgrim's Pride says fiscal first-quarter earnings will fall more than 50 percent short of its prior expectations.

The Pittsburg, Texas-based poultry producer also said it was withdrawing its earnings outlook for the full fiscal 2006 and will cut about 300 jobs at a Pennsylvania plant.

The company blames worse-than-expected performance in operations in Mexico and lower prices received on chicken leg quarters in its U-S operations.

The company's president and C-E-O also cites fears over bird flu for reduced demand.

Copyright 2005 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Powered by Frankly