Finance
International Paper to close 5 sites in UK, axe 300 jobs
Published by Global Banking & Finance Review®
Posted on May 23, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on May 23, 2025
1 min readLast updated: January 23, 2026
International Paper plans to close five UK sites, cutting 300 jobs due to tough industry conditions. A strategic review is ongoing.
(Reuters) -International Paper said on Friday it will close five packaging sites in Britain, cutting around 300 jobs, citing tough industry conditions.
The U.S.-based company, which closed its $7.2 billion acquisition UK paper and packing peer DS Smith earlier this year, said a consultation process with employees and unions is ongoing.
As part of a strategic review by its UK business, the group is also proposing to relocate one site, move another site to a five-day round-the-clock operation from a seven-day operation, and lay off a "small" number of job cuts at two other packaging sites, it said.
The company did not provide further details on the proposals and did not say which UK sites were impacted.
International Paper said it expects the proposals would be implemented by the end of this year.
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Nivedita Bhattacharjee)
International Paper is closing five packaging sites in Britain due to tough industry conditions.
The closures will cut around 300 jobs as part of the company's restructuring.
International Paper expects the proposals to be implemented by the end of this year.
A consultation process with employees and unions is currently ongoing.
In addition to closures, the company is proposing to relocate one site and change another to a five-day round-the-clock operation.
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