International Paper Cuts 3,000 Workers

Stamford, CT—Paper, packaging, and forest products giant International Paper announced a major restructuring and cost-cutting initiative that will eliminate 3,000 salaried employees in the U.S.—about 10% of its workforce. According to a spokesperson, the job cuts will affect mostly corporate positions and will not affect hourly workers manning production lines. The job cuts will be spread over the next year through the streamlining of support staff and administrative workers.

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