WEST LIBERTY, IOWA — After notifying employees of plans to phase out slicing operations at its West Liberty, Iowa, processing plant on Feb. 13, which will include eliminating 260 production jobs in four stages beginning in April, a West Liberty Foods spokesperson confirmed the company is temporarily stopping contributions to its employees’ retirement plans as it looks to cut costs.

“As a temporary measure to conserve cash, we are suspending the matching contribution that West Liberty Foods makes on top of the contributions made by our team members,” said Dan Waters, chief legal officer. “Our team members can continue to make contributions to their 401(k) accounts, just as they have done in the past. Also, their 401(k) money remains in investment funds administered by our plan administrator, just as it has in the past. Nothing changes except that the employer matching contribution is being temporarily suspended.”

The company did not specify how long the matching contributions would be halted. In late 2023, WLF announced it would eliminate more than 50 workers in overhead and support positions across its facilities in Iowa, Illinois and Utah, due to capacity cutbacks at those facilities.