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

In a press release Thursday, the company confirmed that the Monterey facility would close at the end of March. He 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 says it is offering affected Tennessee workers compensation packages with additional pay and job placement assistance.

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

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