At least 50 people laid off from Swift & Co. corporate headquarters

Swift & Co. laid off at least 50 people from its corporate headquarters Wednesday.

Sean McHugh, Swift spokesman, said the company declined to comment on the move, but an employee who worked at the Promontory facility in west Greeley said employees were called into conference rooms, told they were being let go and were escorted out of the building. No explanations were given.

About 525 people worked at the headquarters.

Steve Kay, publisher of Cattle Buyers Weekly, a trade publication, said the layoffs are systemic of the "drastic financial plight the national beef industry is in."

As an example, he said National Beef, the fourth largest processor in the country and considered the industry's most efficient, reported a loss of $24 million in its last quarter, a $62.7 million swing from its previous quarter.

Swift's move, he said, is a move to cut costs "at a time when cattle procurement and selling beef products seems to be out of their control."

The employee who was laid off said rumors abounded Wednesday that Swift was being sold.

Those rumors have existed almost since the current ownership -- Hicks, Muse, Tate & Furst Inc. of Dallas and Booth Creek Management Corp. of Vail -- bought the company from ConAgra Foods in September 2002. By 2004, when that group completed the deal with ConAgra, it became the second largest processor of beef and pork in the world and the leading Australian beef processor. Worldwide, Swift has more than 15,000 employees.

Kay said he has not "heard a whisper" about anyone wanting to buy Swift in the past few months, but he said that didn't mean something wasn't afoot.

Swift's place in Greeley has been threatened in the past. Just after buying the company from ConAgra, Swift briefly considered moving its corporate headquarters to Loveland. City leaders quickly worked to convince Swift executives to stay in Greeley.

Greeley Mayor Tom Selders said he was unaware of layoffs before they happened. He said the news is troublesome for Greeley.

"Any time we see that there is a reduction in the employment of our community it is always something we're going to be concerned about," he said. He is particullary worried that the cuts came at the corporate office.

"That might be reflective of other problems in the company," he said.

Swift was the target of a raid by Immigration and Customs Enforcement agents at six of its beef processing plants in December, a move that cost the company $30 million in revenue and retention of employees.

The employee let go Wednesday, who had been with the company for more than two years, said it was hard to understand "how Swift could give $300,000 to United Way (chapters) to help the families in the raid, then turn around a lay off a bunch of corporate people."

Swift & Co. history

May 1987 -- ConAgra Inc. acquires Monfort Inc.; Ken Monfort named head of newly created ConAgra Red Meat Cos.

Aug. 1987 -- Richard L. "Dick" Monfort, Ken's oldest son, named president of Monfort of Colorado, Inc.

March 1988 -- Swift offices moved from Dallas to Greeley. Swift operations include three beef plants, three pork plants and one lamb plant. The distribution branches are merged with Mapelli Brothers to increase its operations to 60 branches.

September 1995 -- Monfort Pork changes name back to Swift & Co.

September 1995 -- Dick Monfort resigns from the company to pursue private business interests.

December 1999 -- ConAgra announces consolidation of all its beef companies, including Monfort, into ConAgra Beef Co. Name of Greeley packing plants and feedlots to be changed to ConAgra Beef Co.

September 2002 -- ConAgra Beef Co. sold to a group of investors from Dallas and Vail, named changed to Swift & Co.

December 2003 -- First case of mad cow disease detected in U.S., all U.S. beef shipments halted to Japan, other countries.

January 2005 -- Shipments of beef to Japan resumed; closed again shortly thereafter by violation by New York company.

November 2006 -- Greeley plant of Swift & Co. found in violation of exports to Japan.

Dec. 11, 2006 -- Japanese review changes at Greeley plant, limited exports resume.

Dec. 12, 2006 -- Greeley and five other Swift plants raided by Immigration and Customs Enforcement officials.

Jan. 17, 2007 -- At least 50 people are reportedly laid off of their jobs at Swift's headquarters in west Greeley.