Latest news with #UKclosures
Yahoo
24-05-2025
- Business
- Yahoo
International Paper Company (IP) to Shut Down Five UK Locations, Cut 300 Jobs
International Paper Company (NYSE:IP) has announced plans to close five of its UK facilities, putting roughly 300 jobs at risk. The decision comes shortly after its £5.8 billion acquisition of UK-based competitor DS Smith and amid a challenging business climate. With a global workforce of around 65,000 across more than 30 countries, International Paper Company (NYSE:IP) specializes in sustainable packaging and paper products. It said the closures are part of a broader effort to improve efficiency and better respond to shifting customer needs in a difficult trading environment. A strategic review of its UK operations prompted the planned shutdowns, although the specific sites have not yet been named. In addition to the closures, International Paper Company (NYSE:IP) plans to move one facility, scale back operations at another from seven days to five, and make small staff reductions at two more sites. In total, about 300 positions are expected to be affected by the end of the year. International Paper Company (NYSE:IP) said it is currently in consultation with employees and trade unions. IP has surged by nearly 5% in the past 12 months. While we acknowledge the potential of IP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than IP and that has 100x upside potential, check out our report about this cheapest AI stock. READ MORE: and Disclosure. None.
Yahoo
24-05-2025
- Business
- Yahoo
International Paper Company (IP) to Shut Down Five UK Locations, Cut 300 Jobs
International Paper Company (NYSE:IP) has announced plans to close five of its UK facilities, putting roughly 300 jobs at risk. The decision comes shortly after its £5.8 billion acquisition of UK-based competitor DS Smith and amid a challenging business climate. With a global workforce of around 65,000 across more than 30 countries, International Paper Company (NYSE:IP) specializes in sustainable packaging and paper products. It said the closures are part of a broader effort to improve efficiency and better respond to shifting customer needs in a difficult trading environment. A strategic review of its UK operations prompted the planned shutdowns, although the specific sites have not yet been named. In addition to the closures, International Paper Company (NYSE:IP) plans to move one facility, scale back operations at another from seven days to five, and make small staff reductions at two more sites. In total, about 300 positions are expected to be affected by the end of the year. International Paper Company (NYSE:IP) said it is currently in consultation with employees and trade unions. IP has surged by nearly 5% in the past 12 months. While we acknowledge the potential of IP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than IP and that has 100x upside potential, check out our report about this cheapest AI stock. READ MORE: and Disclosure. None.
