From Yahoo Finance: 2025-05-19 12:54:00

International Paper Co. is closing two Texas facilities, laying off 117 workers, and converting a sheet plant into a warehouse in Edinburg. However, the company is investing in McAllen and Reynosa facilities. The move aligns with a strategic growth initiative in North America.

The company will create 40 new hourly positions at the McAllen facility while laying off a total of 132 workers in Edinburg and five in McAllen. The Reynosa operation will relocate to a more modern facility. International Paper has over 260 facilities globally.

Since October, International Paper has laid off over 2,500 employees and closed facilities in several states. CEO Andy Silvernail noted a 2% decline in packaging and paper product demand in North America. The trend is expected to continue in the second quarter.

Read more: International Paper closes Texas plants, cuts 117 jobs