International Paper (IP) has announced a strategic review of its global cellulose fibers business along with the closure of its Georgetown, S.C. pulp and paper mill, leading to over 1,800 job cuts. Meanwhile, the DS Smith merger update is pushed to 2025 as IP highlights early success from its turnaround plan. The job cuts have sparked concern over the potential impact on local economies, like Memphis, where 400 jobs have been cut. Amidst these developments and economic uncertainties, International Paper continues to be recognized for its sustainability efforts, bagging the 2024 Sustainability Award from AF&PA. Shareholders of both International Paper and DS Smith have voted in favor of the merger. Despite the ongoing restructuring, IP's third quarter performances have surpassed earnings and revenue estimates, reflecting resilience. The company also recently outlined a recovery plan after expressing dissatisfaction with recent results. Despite the impressive Q3 performance and sustainability efforts, the ongoing closure of facilities and layoffs, and uncertainties around mergers and acquisitions, all have potential bearing on International Paper's position in the stock market.
International Paper IP News Analytics from Wed, 27 Mar 2024 07:00:00 GMT to Fri, 08 Nov 2024 19:00:08 GMT -
Rating -5
- Innovation -2
- Information 8
- Rumor -5
