Extracted from this filing and checked against the source text.
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
O-I Glass, Inc. /DE/ announced a restructuring with charges of approximately $60 million affecting Waco, Texas glass container plant (approximately 300 people).
- Type
- restructuring
- Charge
- approximately $60 million
- Affected area
- Waco, Texas glass container plant
- Headcount
- approximately 300 people
Exact text from the filing
On September 19, 2023, O-I Glass, Inc. (the “Company”) approved the closure of its Waco, Texas glass container plant. The closure is expected to occur on or after October 16, 2023. The Company intends to facilitate the closure in a respectful manner for the approximately 300 people impacted at the Waco plant. Current customers of the plant will be served by other domestic plants in the Company’s network. The Company remains strongly focused on optimizing the overall efficiency of, and investments in, its regional plant network, and the decision to close the Waco plant is consistent with the Company’s previously communicated initiatives to improve performance across its operations. Subject to finalization of certain estimates, the Company expects to record a charge associated with the Waco closure of approximately $60 million in the third quarter of 2023.
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