O-I Glass to close European plant, record ~$50M charge; severance program adds ~$20M

O-I Glass, Inc. /DE/

Plant closure in European segment affecting ~170 employees; charge ~$50M in Q1 2025 for employee separation and other costs.
Severance program and restructuring expected to reduce SG&A in Americas and corporate; charge ~$20M in Q1 2025, all cash.
Actions part of Fit to Win initiative to cut redundant capacity and optimize network; further closures expected in 2025.
Customers of closed plant will be served by other European plants in O-I's network.

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