International Paper Closing Four Plants, Eliminating 215 Jobs

A corporate and business merger was the reason behind this mass layoff story. Citing the necessity to eliminate overcapacity and integrate its now-combined box business, International Paper Co. is shutting down four plant life in the united states in the next two months. The plant life are located in Fort Smith, Ark., Santa Paula, Calif., Chicago and Solon, Ohio. The business will eliminate a complete of 215 careers, according to a global Paper statement. The plant life are a mixture of facilities owned by Austin, Texas-based Temple-Inland Inc. and International Paper.

4.4 billion acquisition of Temple-Inland, which brought an additional 10,000 employees, 59 package plant life, 14 building products plants and seven containerboard mills into IP’s group of 23,000 employees, 12 paper mills and more than 140 box plant life on six continents. Sounds to me like someone is wanting to monopolize the paper industry.

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