[8-K] HORMEL FOODS CORP /DE/ Reports Material Event

Rhea-AI Filing Summary

Hormel Foods (HRL) announced a corporate restructuring to reduce administrative expenses, improve efficiencies, and align its workforce with future needs while continuing to invest in growth. The plan includes a voluntary early retirement program, closing certain open roles, involuntary role reductions, and select benefit changes.

The company expects to eliminate approximately 250 corporate and sales roles, with most departures by December 31, 2025. Hormel estimates $20–$25 million in restructuring charges, largely tied to one-time pension benefits, cash severance, stock compensation, and employee benefits. Most charges are expected in Q4 fiscal 2025 and Q1 fiscal 2026, with $8–$10 million anticipated as future cash expenditures over the next 12 months. The company notes these figures are estimates and could change.

Insights

Equity analyst – consumer staples

Restructuring with $20–$25M charges; workforce reduced by ~250 roles.

Hormel Foods outlined a restructuring aimed at lowering administrative costs and improving efficiency. The plan covers voluntary early retirements, closing certain open roles, some involuntary reductions, and benefit changes. The company targets approximately 250 corporate and sales roles, with most departures by December 31, 2025.

Total restructuring charges are estimated at $20–$25 million, mostly related to one-time pension benefits, cash severance, stock compensation, and employee benefits. The majority of charges are expected in Q4 fiscal 2025 and Q1 fiscal 2026, with $8–$10 million in cash outlays over the next 12 months.

Impact on earnings will depend on realized cost savings and timing, which are not quantified in the excerpt. The company cautions estimates may change, and additional charges could occur if the program expands.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15 (d) of The Securities Exchange Act of 1934

Date of report (Date of earliest event reported): November 4, 2025

HORMEL FOODS CORPORATION

(Exact name of registrant as specified in its charter)

Delaware			1-2402						41-0319970
(State or other jurisdiction of incorporation)			(Commission File Number)						(IRS Employer Identification No.)

1 Hormel Place, Austin, Minnesota						55912-3680
(Address of principal executive offices)						(Zip Code)

(507) 437-5611

Registrant’s telephone number, including area code

Not Applicable

(Former name or former address, if changed since last report) 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock $0.01465 par value

HRL

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.05    Costs Associated with Exit or Disposal Activities.

On November 4, 2025, Hormel Foods Corporation (the “Company”) announced a corporate restructuring plan designed to reduce administrative expenses, improve efficiencies, and align its workforce to the Company’s future needs, while enabling continued investment in the Company’s growth. The restructuring includes a voluntary early retirement program for certain groups of employees, the closing of certain open roles, involuntary role reductions, and making select changes to benefit programs. As part of the plan, the Company expects to eliminate approximately 250 corporate and sales roles, with most of the related employee departures to occur by December 31, 2025.

In connection with this restructuring, the Company expects to incur restructuring charges in the range of $20 million to $25 million. Substantially all the charges are expected to be related to one-time pension benefits, cash severance payments, stock compensation expenses, and employee benefit costs. Most of the charges are expected to be incurred in the fourth quarter of fiscal year 2025 and the first quarter of fiscal year 2026. Of the estimated aggregate amount of charges, the Company expects that approximately $8 million to $10 million will be in future cash expenditures to be made over the next 12 months.

The estimates of the charges and expenditures that the Company expects to incur, and the timing thereof, are subject to a number of assumptions, and actual amounts may differ materially from estimates. In addition, the Company may incur other charges or cash expenditures due to the expansion of the program or because of events not yet contemplated in connection with the corporate restructuring.

Item 7.01    Regulation FD Disclosure.

A copy of the Company’s press release dated November 4, 2025, regarding the corporate restructuring is attached hereto as Exhibit 99.1 and is hereby incorporated by reference into this Item 7.01.

The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01    Financial Statements and Exhibits.

(d)    Exhibits

Exhibit Number			Description
99.1			Press release issued November 4, 2025.
104			The cover page from this Current Report on Form 8-K, formatted as Inline XBRL.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			HORMEL FOODS CORPORATION
Dated: November 4, 2025			By:			/s/ Paul Kuehneman
						Name: Paul Kuehneman
						Title: Interim Chief Financial Officer and Controller

FAQ

What restructuring did Hormel Foods (HRL) announce?

Hormel announced a corporate restructuring to reduce administrative expenses, improve efficiencies, and align its workforce with future needs.

How many roles are affected by Hormel’s restructuring?

The plan is expected to eliminate approximately 250 corporate and sales roles, with most departures by December 31, 2025.

What restructuring charges does Hormel expect to incur?

Hormel estimates $20–$25 million in restructuring charges, largely for one-time pension benefits, cash severance, stock compensation, and employee benefits.

When will Hormel recognize most of the restructuring charges?

Most charges are expected in Q4 fiscal 2025 and Q1 fiscal 2026.

How much cash outlay is expected from the restructuring?

Approximately $8–$10 million in future cash expenditures over the next 12 months.

Could Hormel’s restructuring costs change?

Yes. The company says the estimates and timing are subject to assumptions and may differ materially; additional charges could occur if the program expands.