International Paper To Close Multiple Plants, Slash Jobs

On Thursday, International Paper Company IP announced the permanent closure of several facilities, affecting jobs.

The company is planning to permanently shut down multiple facilities, such as its Red River containerboard mill in Campti, Louisiana, a recycling plant in Phoenix, Arizona, a box plant in Hazleton, Pennsylvania, and a sheet feeder operation in St. Louis, Missouri.

All these sites are set to halt production by April 2025. International Paper stated that the shutdown of the Red River mill will cut the company’s containerboard output by approximately 800,000 tons per year.

This major reduction will affect both hourly and salaried staff, with 495 hourly workers and 179 salaried employees being impacted across all four locations.

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The company has pledged to help ease the transition by providing outplacement services, mental health resources, and, where applicable, severance packages.

“The decision to close any facility is difficult because of the impact on our team members, their families and the surrounding communities,” said Tom Hamic, executive vice president and president, North American Packaging Solutions, International Paper.

The company employs over 65,000 individuals and operates in more than 30 countries. International Paper reported net sales of $18.6 billion for 2024.

In 2025, International Paper completed the acquisition of DS Smith, strengthening its position in the expanding North American and EMEA markets.

Price Action: IP shares are trading higher by 1.32% at $56.17 in premarket at the last check Friday.

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