International Paper to Close US Facilities, Cut Jobs

International Paper has announced the permanent closure of several facilities across the United States, including its Red River containerboard mill in Campti, Louisiana, impacting approximately 674 jobs. The closures, set to occur by the end of April 2025, are part of the company's strategy to streamline operations and focus on sustainable packaging solutions. The Campti mill alone will reduce the company's containerboard capacity by about 800,000 tons annually. Affected employees will receive support through severance benefits, mental health resources, and assistance with job transitions. This move has elicited concerns from local officials like Republican state Rep. Jack McFarland, who highlighted the economic impact on the region. Despite the closures, International Paper's shares have seen a slight uptick, reflecting investor confidence in the company's strategic direction.