5% reduction
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In my understand, if it is a "layoff", that job position (or at least that job title) is being eliminated. So, a lot of companies will "layoff" their worst employees, and then get a new person, hiring them with a slightly different job title, so they are within the law. LOL
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I don't know the laws of which anybody speaks, other than civil rights laws about race, gender, etc. Granted, lawsuits can be brought for any flimsy reason shoe-horned into one of those established protected categories, but other than that, a private company can fire whomever they please for whatever reason they please.
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Chevron announces layoffs for 20% of its global workforce:
https://www.theguardian.com/business/2025/feb/12/chevron-global-layoffs
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Is it time to post a "I did that!" meme? LOL
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International Paper (IP.N), opens new tab said on Thursday it was shutting down four production facilities in the U.S. and laying off about 1% of its global workforce to tackle softer demand for its packaging products from e-commerce and consumer goods firms.
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@taiwan_girl said in 5% reduction:
International Paper (IP.N), opens new tab said on Thursday it was shutting down four production facilities in the U.S. and laying off about 1% of its global workforce to tackle softer demand for its packaging products from e-commerce and consumer goods firms.
Yep, Campti is one if them. It used to be Willamette, until IP bought them.
IP is just being IP. If you know the industry, people spit when they say the name.
IP typically buys a mill or maybe a string of them from somebody like Boise or Willamette, then proceeds to run the mill into the ground. As little maintenance as possible, OT rather than a full TO and absolutely no new capital outlay. When they wring every dime they can out of the mill, they close it and then try to sell the property, usually economically devastating the small towns where those paper mills are at.
When the management at IP dies, I'd love to go to the funeral. I've never seen anybody screwed into the ground.
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After more than a century of churning out fuel on the banks of the Houston Ship Channel, the city’s oldest refinery is preparing to shut down, potentially putting hundreds of people out of work. Its competitors are welcoming its demise.
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