Smith Dairy Companies has announced plans to slash approximately 1,500 jobs across North America.
Smith Dairy Products Co., a US-based company that makes dairy products, has announced it is cutting around 1,000 jobs across the United States and Canada.
According to Smith Dairy Company, the announcement comes on the heels of a strong year for the dairy industry.
The company has posted an annual revenue growth rate of 9.7%, the best in the industry.
This is Smith Dairy’s fourth consecutive year of solid revenue growth.
In 2017, Smith Dairy posted revenue of $2.5 billion, up 13% from the year before.
Smith Dairy has also posted an increase in operating income of $8.5 million, the largest in the company’s history.
Smith is currently under investigation by the USDA for the alleged violation of federal anti-discrimination laws, the latest in a series of anti-union actions against the company.
Smith was forced to lay off 1,200 workers last year due to a federal investigation into the company that was launched last year.
In February, the company agreed to pay more than $200 million to settle charges of illegally retaliating against workers for organizing a union campaign against its own treatment of workers.
Smith was founded in 1912 by Joseph Smith Jr. and Joseph Smith Sr., who were Mormon pioneers.
The first dairy farm in North America was opened in 1891.
Smith’s parent company, Dairy Products Corp., was founded by Joseph Sr. in 1904.
Smith, Jr. served as president and CEO of the company until his death in 2016.
Smith and his brother, Brigham Young, had been members of the LDS Church for many years, and Brigham Young later became Smith’s brother-in-law.