International Paper (IP) has been in the midst of multiple transformations, affecting its workforce and business strategies. The firm announced a lay-off of about
650 employees, with 400 jobs cut in Memphis. Nevertheless, the company’s status in Memphis remains secure despite this development. These alterations are part of IP's 'transformational journey.’
In other news, both IP and DS Smith shareholders approved of their merger. IP has declared a
quarterly dividend of $0.4625, with Q3, 2024 earnings slated for release on October 31, 2024.
The company hit a 52-week high which led to varied opinions from analysts. Despite lay-offs, IP emphasized fostering safe and inclusive workplaces while building resilient communities. Internally, the firm has seen changes at its top leadership levels. A $15B offer for IP from Brazilian paper company Suzano ended in negotiation cessations.
In contrast to layoffs and failed merger negotiations, the company successfully acquired DS Smith following shareholder approval. Furthermore, IP remains committed to environmental conservation via $15.3 Million investment in partnerships.
International Paper IP News Analytics from Thu, 01 Feb 2024 08:00:00 GMT to Sat, 19 Oct 2024 21:42:47 GMT -
Rating -2
- Innovation 3
- Information 6
- Rumor -8
