More than 200 jobs are set to go after cuts being made to the company 2 Sisters Food Group.
A statement said that it had also found a buyer for its smaller chicken processing plant at Letham, near Forfar, in Angus.
Company bosses said:
“Today we are setting out a rescue plan for Scotland that will help secure the viability of the poultry industry and give us a better opportunity for future growth and success.
“Taking no action would put the future of our industry in Scotland at serious risk.
“There is an oversupply of poultry in Scotland, which has historically been the least efficient manufacturing base.
“There is also evidence of a decline in the UK poultry market due to changes in consumer demand. This situation is unsustainable.”