On October 15, 2024 International Paper Announced Overhead Restructuring Plan, Cutting 650 Jobs, Incurring $80M-$100M Pre-Tax Charges in Q3 and Q4 2024, With Payouts in Q1 2025
Portfolio Pulse from Benzinga Newsdesk
International Paper announced a restructuring plan to cut 650 jobs, incurring $80M-$100M in pre-tax charges in Q3 and Q4 2024, with payouts in Q1 2025. The plan aims to reduce costs and optimize the organizational structure.
October 21, 2024 | 8:37 pm
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International Paper is implementing a restructuring plan to cut 650 jobs, incurring $80M-$100M in charges. This move aims to reduce costs and optimize operations, with payouts expected in Q1 2025.
The restructuring plan involves significant job cuts and financial charges, which may negatively impact investor sentiment in the short term. The focus on cost reduction and organizational optimization could be seen as a positive long-term strategy, but the immediate financial impact and workforce reduction are likely to weigh on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100