International Paper to close two packaging facilities by January

International Paper (NYSE: IP) announced the closure of packaging facilities in Compton, California and Louisville, Kentucky, with operations ceasing by January 2026.

The Compton facility closure will affect 125 employees, while the Louisville facility closure will impact 93 employees. The company stated it will work to minimize employee impact through attrition, retirements and current vacancies at other International Paper locations.

Affected employees will receive outplacement assistance, mental health support resources and severance benefits. All customers will be serviced from other nearby locations.

"Making the decision to close a facility is incredibly difficult, especially knowing the impact it has on our team members and their families," said Tom Hamic, executive vice president and president, North American Packaging Solutions at International Paper.

The company described the closures as part of efforts to streamline its footprint and focus investments on facilities that will better serve customers. International Paper stated it is undergoing what it calls a transformational journey to become a sustainable packaging solutions company.

International Paper reported net sales of $18.6 billion in 2024 and employs more than 65,000 people globally with operations in more than 30 countries. The company acquired DS Smith in 2025.

You May Also Be Interested In

• Kevin Knight retires from Knight-Swift Transportation
• Plug Power director resigns to focus on Wells Fargo role
• QXO and TopBuild set June 29 deadline for stockholder election