Tyson Foods is the latest company closing its Chicago-area offices, joining Boeing, Caterpillar and Citadel among others.
Boeing said in May it was leaving Chicago for Washington, DC, The company didn't blame crime. Analysts said the change signaled it has lost the commercial race to Airbus and wants to be seen as primarily a defense and space contractor. Boeing used to be based in Seattle from its founding in 1916 to 2001.
Caterpillar and Citadel also recently announced moves out of Chicago to different locations outside Illinois. Caterpillar was based in Deerfield, a suburb of the city.Kellogg said in June that its newly formed cereal and plant-based food companies will be headquartered in ChicagoTyson has had a rocky year because of inflation. It recently said that "demand for chicken is extremely strong," while demand for its higher-priced cuts of beef has softened.
Consumer demand for meat remained strong, Tyson said, but consumers are shifting between meats because of inflation. The company plans to launch new lower-priced options and also add new larger package sizes for consumers searching for value. Shares of Tyson are down about 25% for the year.-- CNN Business' Nathaniel Meyersohn contributed to this report.
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