McDonald's Biggest Supplier Of French Fries Is Cutting Hundreds Of Jobs

McDonald's biggest supplier of French fries is cutting hundreds of jobs
Lamb Weston alone produces 250 million pounds of frozen potato products a year. Earlier this month, the company announced it would lay off 4 percent of its workforce, or about 428 workers, and close its factory in Cornell, Washington. The company's shares have plunged about 33 percent since the beginning of the year.
A Lanweston spokesperson told Fortune that the closure is an older plant that accounts for only 5% of the company's capacity.
Lanweston CEO Tom Werner said in an earnings call on Oct. 1 that the fast-food burger restaurant chain was to blame for the company's decline. In Lamweston's first quarter, traffic to these restaurants fell 3 percent, and traffic overall declined 2 percent year over year. Mr. Werner expects ridership to continue to decline in fiscal 2025.