Personal Finance

June 18, 2013

Smithfield Foods is laying off 120 more workers

The move is part of the company’s previously announced closure of a Virginia facility that makes hot dogs and deli meat.
Smithfield layoffs

Smithfield Foods is laying off 120 more workers as part of its previously announced closure of a Virginia facility that makes hot dogs and deli meat.

The Smithfield, Va.-based pork producer, which owns Kansas City-based Farmland Foods, said it plans to close the Portsmouth plant in the middle of August.

The move comes amid the company’s pending $4.72 billion takeover by China’s largest meat producer.

New CEO

Duke Energy, the nation’s largest electric utility, named chief financial officer Lynn Good to replace Jim Rogers next month as CEO.

Rogers, 65, will retire on July 1. He agreed to step down by the end of the year as part of a settlement with North Carolina regulators after a contentious takeover of in-state rival Progress Energy last year.

Verizon in Canada?

Verizon Communications has expressed interest in acquiring wireless carrier Wind Mobile, a move that would let the leading U.S. mobile phone service expand into Canada, according to Bloomberg News.

Wind Mobile also has been approached by suitors from Canada and elsewhere, the news service reported.

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