Extensive discussions with site management, employee representatives and customers have formed the basis of the agreement, which Tulip said would involve several operational adjustments.
Changes to shift patterns and work patterns will result in redundancies at the business, with discussions with individually affected employees to take place.
A spokesman for the firm said: “It is always disappointing to have to lose people from our business, but we are satisfied that the improvements that have already been implemented at the site as a result of significant efforts of all parties, together with the additional changes which will now be actioned, will ensure a sustainable future for the site.
“Our ambition is to now deliver on the commitments that have been set out in our agreed recovery plan, continue with the process of continuous improvement for our day-to-day operations, and actively explore new growth opportunities.”
Tulip’s plans to revitalise its Bodmin site form part of its wider turnaround programme, announced in its full-year results for 2019, where it reported a £73.9m loss for the year. Despite the lack of profit, the company was generally optimistic, with 2020 penned as a year of stability for the business.
Exceptional items driving up costs
The producer attributed much of its costs to exceptional items, work untaken to solidify key customer partnerships and investment in production.
“Last year was all about recovery and, this year, having got to a point where we feel the business is now out of recovery, there’s a renewed sense of optimism,” said a spokesman for the meat processor.
Meanwhile, workers’ union Unite has pledged to seek assurances for staff members at Typhoo Tea’s Moreton factory, after the manufacturer announced plans to axe 76 roles at the site.