International Paper has revealed a significant number of layoffs, with hundreds of employees affected across four states. The company has announced further cuts, including the closure of four factories. A massive layoff has affected 650 workers, particularly from its main base in Memphis. Concurrently,
International Paper has also been in the news for its expected exceeding earnings estimates. The company has disclosed a structured plan aimed at optimizing its operations, accompanied by leadership changes in its management structure. The paper giant is all set to acquire
DS Smith following the approval from shareholders. However, attempts at a possible acquisition by Brazilian paper company
Suzano turned unsuccessful. The company continues to loom over the market with speculation surrounding a possible bidding war over DS Smith.
International Paper also announced the results of
Q2 2024, along with its existing commitment to nature through a
$15.3 Million investment in conservation partnerships. The company faces some criticisms, however, with a number of insiders selling shares, brought about its
financial prospects into question.
International Paper IP News Analytics from Thu, 01 Feb 2024 08:00:00 GMT to Thu, 24 Oct 2024 15:15:03 GMT -
Rating -4
- Innovation 2
- Information 6
- Rumor -6
