IP Continues Massive Layoffs

In late June, IP announced it was eliminating 3,000 jobs from its U.S. work force, which would take place over the next 12 months through a streamlining of the company's staff support functions, as well as by organizational changes within several of its operating businesses.

The reductions represented 10 percent of the company's U.S. salaried work force, excluding its divestiture businesses.