Smithfield Foods announced the closing of its Charlotte, N.C., pork-processing plant. The company will transfer production to its Tar Heel, N.C., facility to increase efficiency and better utilize existing capacity.

The company says it will provide financial and other transition assistance to the 107 employees affected by this closure. It will also meet with employees to discuss options, including transfer to other Smithfield locations. Smithfield will also provide a financial incentive package for hourly employees to remain at Charlotte until December's final day of production.

"Providing transition support to our Charlotte employees is our number-one priority," said Doug Sutton, chief manufacturing officer for Smithfield Foods. "We appreciate their commitment to producing good food responsibly, and we hope many of them will continue in roles at other Smithfield locations."

Smithfield employs nearly 40,000 people in the U.S. and more than 10,000 in North Carolina.