International Paper announces approximately 650 layoffs [Video]

MEMPHIS, Tenn. — International Paper will see “approximately” 650 people laid off from the company, including roughly 400 jobs in Memphis.

Company officials confirmed the layoffs with ABC24 Tuesday saying, “International Paper is undergoing a transformational journey to become a stronger, more profitable sustainable packaging solutions company. A critical step in this journey is to organize our teams and resources to create the most value for customers and shareholders. As a result, we are reorganizing our corporate overhead structure.”

The company said severance packages, outplacement assistance and mental health resources will be made available to all affected employees. 

Company officials did not share more information on the layoffs in Memphis.

The company, which is headquartered in Memphis, saw shutdowns in multiple states for plants in Texas, North Carolina and Florida in 2023, which saw roughly 900 workers affected.

IP said a containerboard mill would permanently close in Orange, Texas, and leaving 17 mills in operation in North America. The Orange mill is …