MONTEREY, Tenn. (AP) – Perdue Farms plans to close a processing plant in Tennessee that employs more than 430 people.

In a news release Jan. 16, the company confirmed that the Monterey facility would close in late March. It said changes in market demand and how the company produces and supplies its products have affected the Monterey plant in recent years.

The company, best known for its chicken, saids is providing affected workers in Tennessee with severance packages with extra pay and job placement help.

“While this decision is incredibly difficult, it is necessary to ensure Perdue remains fit for the future,” CEO Kevin McAdams said in the news release. “We must make challenging choices today to continue to serve our customers and consumers effectively, and to continue to grow our company.”

Based in Salisbury, Md., Perdue Farms was founded in 1920. It has more than 20,000 workers and annual sales of more than $10 billion, focusing on poultry, livestock and other agriculture.