Tyson Foods announced Friday that it plans to close its Lexington plant as part of "network changes designed to right size its beef business and position it for long-term success."

In a press release, the company said it will end operations at its Lexington beef facility and convert its Amarillo, Texas, beef facility to a single, full-capacity shift. "To meet customer demand, production will be increased at other company beef facilities, optimizing volumes across our network," the release says.

The release continues, "Tyson Foods recognizes the impact these decisions have on team members and the communities where we operate. The company is committed to supporting our team members through this transition, including helping them apply for open positions at other facilities and providing relocation benefits.