INTERNATIONAL PAPER CO /NEW/ (IP): restructuring charge — International Paper to cut 650 jobs, incur $80-100M restructuring charge

INTERNATIONAL PAPER CO /NEW/

Workforce reduction of ~650 employees; restructuring substantially implemented in Q4 2024.
Estimated pre-tax charges of $80M-$100M: $50M in Q3 2024, $30M-$50M in Q4 2024.
Charges are substantially cash; majority of cash payments expected in Q1 2025.
Plan aims to reduce operating costs and optimize organizational structure.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

INTERNATIONAL PAPER CO /NEW/ announced a restructuring with charges of approximately $80 million to $100 million affecting corporate overhead restructuring (approximately 650 employees).

Type: restructuring
Charge: approximately $80 million to $100 million
Affected area: corporate overhead restructuring
Headcount: approximately 650 employees

Exact text from the filing

general release of claims against the Company. In connection with the restructuring, the Company estimates it will incur aggregate pre-tax restructuring charges of approximately $80 million to $100 million related to one-time severance payments and other employee termination benefits, with approximately $50 million of such charges recorded in the third quarter of

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3 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

INTERNATIONAL PAPER CO /NEW/ filing history →

Source: SEC EDGAR

accession 0001193125-24-240435

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