565 Workers Lose Jobs As Tobacco Merchant Restructures
A North Carolina company that buys, processes and sells leaf tobacco to cigarette companies is cutting almost 600 jobs as it reorganizes.
Pyxus International Inc. filed a required report with North Carolina officials this week disclosing plans to lay off 565 workers at its plant in the Pitt County town of Farmville by Jan. 7.
The company known until September as Alliance One International says it will move all of its U.S. tobacco processing operations to its plant in Wilson. Pyxus says it isn't completely closing its Farmville plant, but didn't describe in a letter to state officials how it would be used.
The Morrisville, North Carolina-based company posted profits of $52 million in the year ending in March, on revenues of $1.8 billion.