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International Paper’s decision to close two Georgia mills and cut 1,100 jobs has sparked industry scrutiny and raised questions about the company’s long-term prospects and profitability.

International Paper Co. has announced the closure of two Georgia paper mills, leaving 1,100 workers without jobs, in a move to slash costs and boost profits.

International Paper Co. has announced the closure of two Georgia paper mills, resulting in 1,100 job losses, while also entering a strategic agreement and selling its Global Cellulose Fibers business.

Paper’s stock price has stabilized at $48.04 USD, down from its 52-week high of $60.36 USD.

International Paper Co’s disastrous Q2 earnings have sparked a wake-up call for the company’s boardroom, with a 50% drop in adjusted earnings per share and a 7% stock price hit.

International Paper Co. has completed the divestiture of five European plants to PALM Group, a key step in its acquisition of DS Smith Plc and a move to streamline its operations and comply with regulatory requirements.