Greif plans to permanently close its facility in Merced, California, eliminating 43 jobs. The company will cease operations in September. CEO Ole Rosgaard stated they are committed to making the transition as easy as possible, providing severance packages and career placement services. This closure aligns with an optimization plan to cut $100 million in costs by the end of fiscal year 2027. Executives have also reshuffled the business units, focusing on polymer-based products for future investments. Greif has already offloaded some facilities this year as part of the optimization plan, including closing a paperboard mill in Los Angeles and selling its containerboard business.

Read more at Yahoo Finance: Greif to close California facility, cut 43 jobs