SMFI said it decided to close the plant due to increasing environmental demands and stiff competition from low-priced chicken imports.
The firm said its generous retirement package and benefits would involve more than P207 million as payment to those affected.
Efforts to redeploy the plant employees to other units within the company are being considered to the extent there are available posts. Seminars on setting up alternative sources of livelihood as well as counseling will also be given to the affected employees.
To meet its commitments to customers, the output of SMFI’s other processing facilities will be increased.