Cascades closes Niagara Falls, N.Y., manufacturing plant; more than 100 job losses
The decision has led to the loss of 123 jobs and closure costs are estimated at $5 million.
Production is to end no later than Sept. 3.
Cascades makes cardboard packaging, toilet paper, paper towels and other products.
Executive vice-president Jean-David Tardif says it the closure was a difficult decision.
But he says it was an essential part of the company's efforts to improve performance in its packaging segment.
Monday Mornings
The latest local business news and a lookahead to the coming week.
This report by The Canadian Press was first published July 8, 2025.
Companies in this story: (TSX: CAS)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Market Online
an hour ago
- The Market Online
Trade Truce Boosts TSX Futures
Energy and mining stocks gave way for reprieve this morning along with easing trade tensions between US and China, tipping futures upward this morning. Market Numbers (Futures) TSX : Up ( 0.24%) 27,841.89TSXV: Up (0.76%) 793.24DOW: Flat (0.00%) 44,084.00NASDAQ: Up (0.00%) 23,640.75 FTSE: Up (0.02%) 9,131.50 In the Headlines: Ford just vaulted into the EV arena with a nearly $2 billion blitz to retrofit its 70-year-old Kentucky gas plant—lighting the fuse on what CEO Jim Farley calls the 'Model T moment' for modern auto reinvention. And Canada's government just unveiled 'Build Canada Homes'—a new federal vehicle primed to fire up housing supply using Canadian-made materials and aggressive public land rollouts, all while the clock ticks down on widespread affordability Currencies Update: (Futures) The Canadian dollar lost ground against the greenback, slipping 0.17% to $0.7232 , and eased off by 0.08% versus the euro to $0.6237 , while Bitcoin tumbled 1.51% to land at CDN$163,287.41. Commodities: (Futures) Natural Gas: Down (1.04%), 2.92WTI: Down (0.57%), 63.57Gold: Up (0.07%), 3,347.21 Copper: Up (0.63%) 6.04 To stay up-to-date on all of your market news head to Join the discussion: Find out what everybody's saying check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here
Winnipeg Free Press
an hour ago
- Winnipeg Free Press
CIBC making senior executive changes ahead of CEO change in November
TORONTO – CIBC is making changes to its senior executive ranks ahead of Harry Culham's move into the role of president and chief executive later this year. The bank says Christian Exshaw will be appointed senior executive vice-president and group head, capital markets, while Kevin Li will be appointed senior executive vice-president and group head, U.S. region, as well as president and CEO, CIBC Bank USA. CIBC also says Christina Kramer will be appointed senior executive vice–president and chief administrative officer. Hratch Panossian, senior executive vice-president and group head, personal and business banking, will add contact centres and client marketing to his mandate, while Susan Rimmer, senior executive vice-president and group head, commercial banking and wealth management, will add oversight of CIBC Caribbean. Amy South will be appointed executive vice-president, office of the CEO and chief of staff, and Stephen Scholtz will be appointed global chief legal officer. Culham, who had led CIBC's capital markets business, was appointed chief operating officer earlier this year ahead of his move to the CEO suite on Nov. 1 to succeed Victor Dodig in the top job. Monday Mornings The latest local business news and a lookahead to the coming week. This report by The Canadian Press was first published Aug. 12, 2025. Companies in this story: (TSX:CM)
Cision Canada
an hour ago
- Cision Canada
Supercharging employee productivity; building a foundation to scale Français
I ris is a transformative application of GenAI and Agentic AI technology that directly impacts employee productivity while creating a foundation for Sun Life to scale future Client-facing innovations. Projected annual savings of over 24,000 hours for both employees and agents combined. TORONTO, Aug. 12, 2025 /CNW/ - For the second consecutive year, Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) has been named a 2025 CIO Awards Canada winner, this year for its internally developed GenAI-powered agent, Iris. The CIO Awards Canada celebrate Canadian organizations and the teams within them that are using IT in innovative ways to deliver business value. Sun Life's internal virtual agent, Iris, uses GenAI and Agentic AI to improve employee productivity and service desk efficiency. Iris is a secure service desk assistant that delivers instant, conversational responses to common inquiries such as password resets, software requests, and ticket status updates. Integrated into Sun Life's existing systems, service desk workflows and knowledge base, Iris creates a seamless and secure self-service option for employees while freeing up service desk agents' time to focus on more complex cases allowing employees to return to their priorities more quickly. The result: significant time savings, enhanced productivity, improved satisfaction, and a scalable model for future Client-facing AI innovations. Productivity by the numbers Iris has dramatically reduced average service desk resolution time by 83%, resolving over 80% of employee questions in under two minutes. More than 9,000 password resets have been completed over the past year. The current success rate is 82%. Iris has successfully handled approximately 10,000 employee queries since launch. Projected annual savings of over 24,000 hours for both employees and agents combined. "This recognition is a testament to the power of responsible innovation and how it can be leveraged to deliver Client and employee impact," said Laura Money, Executive Vice-President, Chief Information and Technology Innovation Officer, Sun Life. "Iris combines the power of GenAI and Agentic AI with practical application – delivering real time value for our employees while creating a blueprint for how we can apply GenAI to deliver enhanced productivity at scale across Sun Life globally and for our Clients." Digital leadership, backed by results Iris is foundational for future Client-focused innovations. The insights gained from this internal implementation are enabling Sun Life to scale similar GenAI and Agentic AI tools across all contact centres globally, transforming how Sun Life interacts with Clients, allowing faster, more personalized digital experiences. In addition, the Agentic AI system functionalities continue to expand and will have the ability to handle increasingly complex employee needs as Sun Life continues to introduce new features. "With measurable gains in efficiency, satisfaction and speed, Iris is a tangible example of how Sun Life is delivering on its innovation agenda," adds Money. "By putting advanced technology like this at the centre of everything we do, we are safely and responsibly leveraging GenAI and Agentic AI to enhance operational efficiency while creating a foundation for broader digital transformation to meet the future needs of our employees and Clients." Iris is just one step on Sun Life's broader digital transformation journey. The enterprise recently also developed and launched the Advisor Notes Assistant tool, an innovative GenAI tool designed to enhance the Client experience and streamline advisor workflows. This cutting-edge technology helps advisors save 15-30 minutes of administrative effort per meeting, enabling them to spend more time deepening Client relationships and providing trusted tailored advice. Sun Life is committed to digital leadership and to ensuring a focus on Client impact by continuing to adopt and experiment with innovative technology. Our culture is rooted in safety and security which extends to our adoption of emerging technologies. Through technology like GenAI, Sun Life empowers its people to enhance their skills to deliver on our Purpose of helping Clients achieve lifetime financial security and live healthier lives. About Sun Life Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the U.S., the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of June 30, 2025, Sun Life had total assets under management of $1.54 trillion. For more information, please visit Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF. About the CIO Awards Canada The CIO Awards for Canada celebrate Canadian organizations and the teams within them that are using IT in innovative ways to deliver business value, whether by creating competitive advantages, optimizing business processes, enabling growth, or improving relationships with customers. The award is an acknowledged mark of enterprise excellence and a source of pride for all winning organizations. About IDC International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC the world's leading tech media, data, and marketing services company. To learn more about IDC, please visit Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights. To learn more about IDC Canada, please visit or follow us on LinkedIn. About CIO CIO focuses on attracting the highest concentration of enterprise CIOs and business technology executives with unparalleled peer insight and expertise on business strategy, innovation, and leadership. As organizations grow with digital transformation, CIO provides its readers with key insights on career development, including certifications, hiring practices and skills development. The award-winning CIO portfolio provides business technology leaders with analysis and insight on information technology trends and a keen understanding of IT's role in achieving business goals. For more information about CIO please visit, Note to editors: All figures in Canadian dollars.
