International Paper to Close Five Sites in Germany, Affecting 500 Jobs by End of 2026

LONDON - International Paper Company (NYSE:IP; LSE:IPC) announced Wednesday it plans to close five sites in Germany and partially close another as part of efficiency improvements, potentially affecting approximately 500 jobs.

The closures include one conventional box plant, one display and offset site, three sheet plants, and the partial closure of one display site, according to a company statement. The measures are expected to be implemented by the end of 2026, subject to mandatory employee consultation procedures.

International Paper said the proposed closures stem from a strategic review by its Central European business amid "tough trading conditions" and are part of the company’s effort to "become a stronger sustainable packaging solutions company."

The announcement represents a change to International Paper’s previously stated intentions regarding DS Smith plc, following the completion of their all-share combination on January 31, 2025. The merger created a packaging industry leader focused on North American and EMEA markets.

International Paper indicated that a consultation process with employee representatives is currently underway, and the company cannot comment further on the scope or potential impact until this process progresses.

The Memphis-headquartered company, which maintains its EMEA headquarters in London, employs more than 65,000 people globally with operations in over 30 countries. International Paper reported net sales of $18.6 billion for 2024.